AGM Statement

Anglo-Eastern Plantations PLC
14 June 2001

                         ANGLO-EASTERN PLANTATIONS PLC

                                AGM STATEMENT

At the AGM in London today of Anglo-Eastern Plantations, which owns
approximately 13,000 ha of mature and 8,500 ha of immature oil palm
plantations in Indonesia and Malaysia, Peter O'Connor, the senior
non-executive Director, stated with regard to current trading and prospects:

 'Oil palm crops for the 5 months to May this year were 5% down on
expectations and very slightly ahead of the same period of last year.

I am glad to report that crops for our newly maturing Bengkulu project in
South Sumatra are on target.  This increasing production compensates for a
shortfall on our established North Sumatran estates.  But from the number of
developing bunches now visible, crops on Tasik, our main property, in North
Sumatra, should pick up in the second half of the year.

Rubber and cocoa crops are 5% and 7% respectively ahead of last year but of
course their total contribution compared to oil palm is much less.

The CPO (Crude Palm Oil) price continues very depressed, presently at $252 per
tonne having sunk as low as $220 last month.  With record Latin American soya
crops now harvested and likely record planting of soya in the United States
the outlook for CPO in the next 6 months is not encouraging.  In historic
terms, the market should turn but it is impossible to say when.

The low CPO price is mitigated by strong demand within Indonesia which is
creating a premium of 12% in the local over the world price.   In addition the
further weakening of the Rupiah to Rp11,200 to the dollar from Rp9,600 at the
beginning of the year is helpful to our local revenue.

This 15% fall in the Rupiah reflects continuing political uncertainty in
Indonesia.  Even if the position of the President is resolved we must expect
instability for several years to come.  Fortunately our operations on the
ground remain largely unaffected but the imminent changes towards regional
devolution are likely to create difficulties for administration of many
businesses, including our own.

The average CPO price so far this year, at $250 per tonne, is 20% lower than
the average of $314 for 2000.  Unless there is a dramatic improvement, our
results for 2001 will be lower than last year.  I know shareholders will have
been disappointed in the reduction in the dividend in respect of 2000 but in
the light of current circumstances and the need to complete development of our
remaining immature areas this decision looks to be further justified.

As stated in the chairman's statement in the Annual Report for 2000 we remain
confident in the long term prospects for the group supported by the increasing
production from our 8,600ha in Bengkulu and by the competitive advantage which
Indonesia affords to the plantation industry.'


Enquiries:

Anglo-Eastern Plantations plc                                   020-72 36 28 38
  Rollo Barnes (Financial Director)

Bankside Consultants Limited                                    020-72 20 74 77
  Charles Ponsonby