AGM Statement

Anglo-Eastern Plantations PLC
28 June 2005


                         ANGLO-EASTERN PLANTATIONS PLC

                                  AGM Statement

At the Annual General Meeting in London this morning of Anglo-Eastern, which
owns approximately 31,000 ha of developed plantations (mainly oil palm in
Indonesia), Mr Peter O'Connor, senior independent non-executive director, who
acted as chairman, commented as follows:

'In the year ended 31 December 2004, pre-tax profit increased by 26.7% to $24.8m
on turnover up 35.2% to $65.6m, both figures being a record by a wide margin.
This result reflected a 15% increase in production of fresh fruit bunches (FFB),
a 41% increase in FFB bought in for processing, and a 5% increase in average
crude palm oil (CPO) prices.

Turning to the current year, crops to May 2005 are slightly higher than the
corresponding period last year. Production from Bengkulu in southern Sumatra is
substantially ahead of last year due to the increasing mature plantings, but
Tasik's production has been significantly lower. The weather in much of northern
Sumatra, where Tasik is located, has been unusually dry, and on Tasik we may be
seeing some reaction to the high crops of the last two years.

Competition for bought in crop, for processing at the group's oil mills, has
become fierce with the opening of new stand-alone mills in Bengkulu and around
Tasik. Nevertheless, our bought in crop is ahead of last year, assisted by
supply to the new Blankahan mill in North Sumatra.

The CPO price averaged $418/mt in the five months to May 2005, which compares to
$460/mt for 2004 as a whole and $502/mt for the first six months of 2004. The
current price of approximately $428/mt is still satisfactory but inevitably half
year profits will be affected.

New planting in Bengkulu is now proceeding normally after completion of
negotiations with squatters in our land title area. In addition, we have
received formal rights over a further 900ha of land at Bina Pitri (the 4,300 ha
estate, in the Sumatran province of Riau, acquired in 2004); this area has been
prepared ready for planting in October 2005.

The new 20mt/hour mill at Blankahan is operating satisfactorily. Extension of
the mill at Tasik, from 45mt/hr to 60mt/hr, is in progress and expected to be
complete in October.

In summary, the development of the group is proceeding as planned. With average
CPO prices 17% down on the average for the first half of 2004, our pre-tax
profit for the first half of 2005 is likely to be well below the first half of
2004. If, however, current prices of around $428/mt continue, then, with the
normal bias of production towards the second half and the lower prices which
prevailed in the second half of 2004 (an average of $433/mt), the full year
shortfall relative to 2004's record profit is expected to be significantly
reduced.

Enquiries:

Anglo-Eastern Plantations Plc                  020-7236 2838
Rollo Barnes (Financial Director)

Bankside Consultants Limited
Charles Ponsonby                               020-7367 8851 / 07789-202 312


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