Final Results

Anglo-Eastern Plantations PLC
11 April 2001

                        ANGLO-EASTERN PLANTATIONS PLC

                           PRELIMINARY ANNOUNCEMENT

Anglo-Eastern Plantations, which owns approximately 13,000ha of mature and
8,500ha of immature oil palm plantations in Indonesia and Malaysia, today
announces its results for 2000:

Year ended 31 December                                  2000    1999    Change
Turnover (£000)                                         11,630  12,196  - 5%
Operating profit (before interest/exceptionals) (£000)  4,682   5,764   - 19%
Pre-tax profit (£000)                                   4,399   5,734   - 23%
EPS (p)                                                 5.0     7.6     - 34%
Dividend per share (p)                                  1.04    2.56    - 59%


*        23% fall in sterling pre-tax profit caused by 25% fall in average
         palm oil price for the year

*        Oil palm crops were a record - up 22% at 253,000mt

*        NAV per share 132p (196cts) (1999 - 118p (190cts)) on discounted cash
         flow basis

*        Political and social uncertainties in Indonesia have had little
         adverse impact on the company's operations there

*        First production in 2000 from new oil palm project in Bengkulu,
         Indonesia, subsequent growth expected to make marked impact in 2002

*        Further development in Bengkulu on hold after completion of current
         commitments of 460ha

*        38% of group planted area is still immature

*        Long term development loans of US$12 million arranged during year to
         fund continuing immature maintenance and construction of palm oil mill

*        Dividend reduced in the face of weak commodity prices in order to
         complete current development programme.

Mr Chan Teik Huat, Chairman and Chief Executive, said

'Our crops for the first quarter of 2001 are 8% ahead of last year, but palm
oil prices deteriorated further after the year end.  Without a significant
improvement we are unlikely to see an improvement in profits for 2001.  With
38% of our planted area still immature our policy remains to bring this area
to successful maturity which we hope will coincide with an improvement in the
fortunes of the palm oil price.  We must expect continuing instability in
Indonesia for some time, but despite current adverse market conditions, the
country possesses a strong competitive advantage in terms of climate, soils,
labour and costs for palm oil production.'


Enquiries:


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

Bankside Consultants Limited                                    020-72 20 74 77
Charles Ponsonby


Notes for editors:

What is palm oil?

Palm oil is an edible vegetable oil derived from the fruit of the oil palm.
It is widely used in cooking in Asia and in the rest of the world as an
ingredient in processed food products.  Together with other oils and fats it
also has a wide variety of non-food uses.

Where is it produced?

Oil palms, which like a humid climate, regular rainfall and sunshine, are
grown near the equator.  They begin fruiting three years after planting, reach
full production in about eight years and have an economic life of about 25
years.  Malaysia and Indonesia account for approximately 85% of world
production.

How is it produced?

The fruit grows in tight bunches (fresh fruit bunches - FFB) rather like
dates.  Crude palm oil (CPO) is produced in mills, which must be on or near
the estates, and which press the fruit and clarify the resulting oil.  CPO is
generally sold to third party refiners where it is split into different types
of oil and fat.  The fruits contain a kernel which is crushed separately to
produce palm kernel oil (PKO).

What is it used for?

Food items
*       Cooking oil, particularly for frying because of superior heat
        resistant properties
*       Bakery shortenings
*       Margarine
*       Ice cream
*       Confectionery coatings

Non-food items
*      Soaps, detergents
*      Cosmetics
*      Flavours, fragrances (oleochemicals)

What are its competitors?

Oils and fats are largely interchangeable subject to the amount of processing
required to achieve specific properties from each type.  The main oils and
fats in terms of world production are:
                                                                              %
Soya bean                                                                    22
Animal and fish                                                              21
Palm                                                                         19
Rape seed                                                                    12
Sunflower                                                                     9
Other vegetable oils                                                         17
                                                                            100


Palm oil is five times as productive per hectare compared to its nearest
vegetable oil rival, soya, and has a resulting cost advantage over its
competitors.

Who uses it?

The biggest consumer of palm oil is Indonesia which, with a huge domestic
market, consumes half its own production.  Consumption by main consumer
country is:
                                                                              %
Indonesia                                                                    14
EU                                                                           11
India                                                                        10
China                                                                         9
Pakistan                                                                      6
Malaysia (for processing into chemicals)                                      6
Other                                                                        44
                                                                            100





                             CHAIRMAN'S STATEMENT

Group oil palm crops were an all-time record in 2000, up 22% at 253,000mt, so
it is disappointing to report a fall in pre-tax profits of 28% from $9,231,000
to $6,643,000 caused by further weakening of 24% in the palm oil price
following what were already significant falls in 1999.

The low prices caused a further loss in our Malaysian operation, which
accounts for about 9% of our total production.  Since that loss cannot be
offset against profits elsewhere, the group tax charge for 2000 was
disproportionately high.  Earnings per share therefore fell 37% from 12.3cts
to 7.6cts.

Commodity prices

The palm oil price began falling early in 1999 from $600/mt (cif Rotterdam).
The price averaged $314 during 2000 (as against $420 in 1999), a reduction of
25%, touching a low of $247 in October and ending the year at $265.  The oils
and fats market is too complex to give a proper analysis of the fall in a
statement such as this.  Among the major factors affecting the market have
been

-      increases in production of soya beans (a competitor commodity) to
       record levels in both North and South America

-      the trend in China to import oil seeds for domestic crushing rather
       than palm and other oils

-      the biggest importer of palm oil, India, has been increasing tariffs
       against palm oil in order to protect its own oil seed industry

-      buoyant palm oil production in Indonesia and Malaysia which account for
       about 35% and 50% of world production respectively.



The Indonesian export tax on CPO (crude palm oil) was reduced during the year
from 10% to 3%.  This, together with a weakening of 45% in the rupiah over the
year relative to the dollar, partly compensated in local terms for the CPO
price decline.

Rubber and cocoa prices remained at historically low levels through the year -
but these levels are still profitable.

Indonesia

The political and social uncertainties have been well publicised.  With the
exception of one potentially serious case, where we faced a spurious land
claim, we have been fortunate not to have been affected to any great extent.
In that case we received splendid support from the local police as well as
from our own staff and labour who have been determined to stand for no
nonsense.  We are grateful to them for their fortitude.  Such support from the
local authorities reflects the importance placed by our management on building
good local relationships.

It is therefore particularly pleasing to report a record FFB (fresh fruit
bunches) crop of 157,000mt from Tasik and 18% above the last record in 1997.
Anak Tasik, the small neighbour, also had a record year of 18,200mt.  These
results reflect a period of sound husbandry in preceding years and at these
levels there is a considerable strain on our mill staff who keep the plant
going, three shifts per day for months on end.

After record oil palm harvests in 1999, oil palm crops from the other smaller
estates in North Sumatra (Blankahan, Sungei Musam and Rambung) fell back 5% to
48,100mt, which was not unexpected after four years of continuous increases.

The year was a landmark with the start of harvesting of areas planted in 1997
on our new projects in Puding Mas and Alno in the province of Bengkulu.  The
crop of 7,000mt was small and, while expected to rise to about 30,000mt in
2001, it will be 2002 before we see a marked contribution when some 64,000mt
is expected.  Of the 8,650ha planted in Bengkulu, 74% is immature.  The whole
area is 44% larger than Tasik.  The increases from Bengkulu should more than
compensate for the reductions in Tasik crop anticipated when replanting starts
around 2005.

Construction of a 30mt/hr oil mill, designed for expansion to 60mt/hr, began
in October on Puding Mas.  Commissioning is expected in the first half of
2002.

Shareholders will wonder at our repeated statements that the Bengkulu land
titles are being processed but not yet issued.  We suffered a set back during
the year when the authorities decided to excise 2,000ha of unplanted land from
our Alno area of 8,000ha on the grounds that it was incorrectly zoned.  This
sort of confusion is not unusual and, in spite of the tortuous process, issue
of the titles is in sight.  We still have 14,000ha of land for development and
the authorities have undertaken to find a further 2,000ha for us within our
agreement, should we seek it.

Malaysia

Crops from the Cenderung estate increased 30% to 22,100mt but this level is
still too low to make a profitable operation at current prices.  Unlike
Indonesia, in Malaysia the effect of a low palm oil price has not been
cushioned by devaluation of the ringgit or reductions in export taxes.  So in
spite of the crop increase the estate made a loss of $675,000 of which our
share is 55%.  About 38% of this property is immature so there is considerable
potential.

Valuations

As in the previous two years we have included our estates in our balance sheet
at the discounted value of future cash flows.  This year, in view of the
uncertainties in Indonesia, we have increased the discount rate.  As a result,
despite the approach to maturity of the new areas in Bengkulu, the value of
fixed assets in the balance sheet remains little changed from last year.  I
stress that these valuations are the value to the company of its properties
and do not necessarily reflect general market values in current conditions in
Indonesia or at current palm oil prices.

Finance

Arrangements for the two long-term development loans, mentioned in my
statement last year, were completed during 2000 and $1.4 million had been
drawn down by the end of 2000.  The facility of $2.1 million in Malaysia will
fund the maintenance to maturity of the immature area together with some
limited future development.  The facility of $10 million in Indonesia is being
used for a similar purpose as well as for the construction of the oil mill
referred to earlier.  As the Indonesian facility does not cover all the
development cash requirements, we have decided, until prices improve, not to
commit to any new planting in Bengkulu after completing current commitments of
460ha.

At the year end net cash was reduced to $1.7 million from $2.7 million and in
the year net interest receivable reduced to $83,000 from $277,000.

Dividend

After a policy of rising or steady dividends the board felt obliged to reduce
the dividend in respect of 1999 to 4.0cts.  It had been our hope, if prices
improved, to reinstate that level for 2000 but, in view of the residual
funding requirement for development in Bengkulu and the immediate outlook, we
have decided it would be prudent to reduce the dividend further to 1.5cts.

Outlook

While we cannot expect Tasik to repeat last year's record, the increasing
crops from our new developments should deliver an increase in total oil palm
output in 2001.  For the first quarter of 2001 our crops are 8% ahead of the
same period last year.  Management in Indonesia are successfully increasing
the amount of crop we process from outside.

The present bear market in vegetable oil prices has been unusually long and it
is tempting to suggest that it must turn soon.  But while there has been
movement off the recent lows of $230/mt for CPO, the immediate outlook is not
for any dramatic recovery.  Our turnover for the first quarter of 2001 was 35%
below the same period in 2000.

The price of cocoa has improved sharply of late, but rubber prices remain
stagnant.  Neither of these crops are now large contributors so that, without
a significant price improvement in the average palm oil price to over $300/mt,
we are unlikely to see an improvement in profits for 2001.

Our policy remains to bring the Bengkulu project to successful maturity when
we hope that the resulting rises in production will coincide with the
restoration of the fortunes of palm oil.  We must expect continuing
instability in Indonesia for some time but despite current adverse market
conditions, the country possesses a strong competitive advantage in terms of
climate, soils, labour and costs for palm oil production.



                                                             CHAN TEIK HUAT
11 April 2001                                                      Chairman
                                                                     


                    CONSOLIDATED PROFIT AND LOSS ACCOUNT
                                   2000        1999        2000        1999


                                   US$'000       US$'000       £'000       £'000

Turnover - continuing operations   17,562       19,636       11,630       12,196
Operating profit - continuing      7,071       9,280       4,682       5,764
operations


Net interest receivable            83          277         55          172
Other non-operating items          (511)       (326)       (338)       (202)

Profit on ordinary activities      6,643       9,231       4,399       5,734
before tax


Taxation                          (3,147)     (3,399)     (2,084)       (2,111)

Profit on ordinary activities      3,496       5,832       2,315       3,623
after tax
Minority interests (all equity     (522)       (984)       (346)       (611)
interests)
Profit attributable to             2,974       4,848       1,969       3,012
shareholders

Dividends                          (588)       (1,569)       (389)       (975)
Retained profit for the year       2,386       3,279       1,580       2,037


Earnings per ordinary share (basic
and diluted)                       7.6cts       12.3cts       5.0p        7.6p
                                   

OTHER NON-OPERATING ITEMS:         2000        1999        2000        1999
                                   US$'000     US$'000     £'000       £'000
(Loss)/profit on current           (79)        209         (52)        130
investments
Exchange (losses)                  (432)       (385)       (286)       (239)
Abortive listing expenses          -           (150)       -           (93)
Total                              (511)       (326)       (338)       (202)

TAXATION:                          2000        1999        2000        1999
                                   US$'000     US$'000     £'000       £'000
Foreign corporation tax            3,013       3,179       1,995       1,974
Foreign withholding tax            134         220         50          137
                                   3,147       3,399       2,045       2,111



DIVIDEND:         The board have proposed a final and only dividend
                  for 2000 of 1.5cts (1999 - 4.00cts) to be paid on 20 June 2001
                  to shareholders on the register on 1 June 2001.  Shareholders 
                  electing to receive their dividend in sterling will receive   
                  1.04p (1999 - 2.56p).

ACCOUNTS:         Accounting policies remain unchanged from the previous year.  
                  The financial information set out above does not comprise the
                  company's statutory accounts. Statutory accounts for the      
                  previous financial year ended 31 December 1999 have been      
                  delivered to the Registrar of Companies.
                  The auditors' report on those accounts was unqualified and did
                  not contain any statement under section 237(2) or (3) of the  
                  Companies Act 1985.  The auditors have not yet reported on    
                  accounts for the year ended 31 December 2000, nor
                  have any such accounts been delivered to the Registrar of     
                  Companies.  This report was approved by the board on 11 April 
                  2001.


                          CONSOLIDATED BALANCE SHEET
                                      2000        1999        2000        1999
                                      US$'000     US$'000     £'000       £'000

Fixed assets
Tangible assets                       97,556       95,284       65,473    59,183

Current assets
Stocks                                784         1,023       526         635
Debtors                               1,452       2,175       974         1,351
Investments                           219         662         147         411
Cash                                  2,096       2,709       1,407       1,683

                                      4,551       6,569       3,054       4,080
Current liabilities
Creditors:   falling due within one year
Borrowings                            (436)       -           (292)       -
Other creditors                       (4,775)     (7,614)     (3,204)    (4,729)

                                      (5,211)     (7,614)     (3,496)    (4,729)
Net current liabilities               (660)       (1,045)       (442)    (649)
Total assets less current liabilities 96,896       94,239       65,031    58,534
Non-current liabilities
Creditors:   falling due after more than
one year
Borrowings                            (1,412)       -          (948)       -
Deferred taxation                     (590)       (590)        (395)       (366)
Net assets                            94,894       93,649       63,688    58,168

Share capital                         15,171       15,171       9,808     9,808
Share premium                         23,570       23,570       15,329    15,329
Share capital redemption reserve      1,087       1,087         663       663
Revaluation and exchange reserve      8,514       8,575         6,645     4,264
Profit and loss account               28,559       26,173       19,167    16,257
Shareholders' funds                   76,901       74,576       51,612    46,321
Minority interests                    17,993       19,073       12,076    11,847
                                      94,894       93,649       63,688    58,168



             CONSOLIDATED STATEMENT OF RECOGNISED GAINS AND LOSSES
                                      2000        1999
                                      US$000       US$000
Profit for the financial year         2,974       4,848
Unrealised surplus/(deficit) on
revaluation of the estates            15,525       (6,795)
                                      
(Loss)/gain on exchange translation   (15,586)    7,752
Total recognised gains relating to    2,913       5,805
the year

               RECONCILIATION OF MOVEMENT IN SHAREHOLDERS' FUNDS
Total recognised gains                2,913       5,805
Dividends                             (588)       (1,569)
Transfers re purchase of own shares   -           (680)
Net increase in shareholders' funds   2,325       3,556
Beginning of year                     74,576       71,020
End of year                           76,901       74,576




                       CONSOLIDATED CASH FLOW statement
                                 2000         1999         2000           1999
                                 US$000       US$000       £000           £000

Net cash inflow from operating   9,133        11,406       6,176          7,273
activities
Returns on investment and
servicing of finance             27           277          18             172
                                 
Tax paid net of refunds          (3,354)       (3,263)       (2,222)     (2,027)

Capital expenditure              (7,142)       (9,447)       (4,730)     (5,868)

Equity dividend paid to parent
company shareholders             (1,569)       (2,746)       (1,039)     (1,706)
                                 
Cash outflow before management
of liquid resources and
financing                        (2,905)       (3,773)       (1,797)     (2,156)
Proceeds from sale of current    364          -            241            -
investments

Financing

   Drawdown/(repayment) of long  1,412        (923)        935            (573)
term loan

   Purchase of own shares        -            (680)        -              (422)

   Subscription by minority      -            219          53             136
shareholder

   Finance repayment by minority
   shareholder                   80           -            -              -

                                 1,492        (1,384)       988            (859)

(Decrease) in cash and cash      (1,049)       (5,157)       (568)       (3,015)
equivalents



CROPS

                                 2000         1999
                                 Tonnes       Tonnes
Oil palm fresh fruit bunches
  -ex estates                    253,094       206,725
  -bought in                     38,125       36,730
Crude palm oil                   52,297       42,941
Rubber                           1,253        1,595
Cocoa                            131          182


AREAS

                                 Total        Mature       Immature
                                 ha           ha           Ha

Oil palm                         21,468       12,961       8,507
Rubber                           996          929          67
Cocoa                            258          172          86
                                 22,722       14,062       8,660
Reserves                         18,783
Total                            41,505