Interim Results

ANGLO-EASTERN PLANTATIONS PLC
4 October 1999


          INTERIM RESULTS - HALF YEAR TO 30 JUNE 1999

*    Anglo-Eastern  Plantations, the owner  of  extensive  oil
     palm  estates  in  Indonesia with  further  interests  in
     Malaysian  oil palm and Indonesian rubber,  announces  an
     89%  increase  in  profit  before  exceptional  items  to
     US$4,499,000 (1998: US$2,376,000).

*    After  exceptionals,  notably a  profit  on  exchange  of
     US$1,971,000  in 1998, the pre-tax profit  was  still  5%
     higher at US$4,579,000 (1998: US$4,380,000).

*    Earnings per share were US6.1cts or 3.8p (1998:  US5.1cts
     or 3.1p).

*    This  result  reflects a significant  recovery  in  crops
     compared  to  the first half of 1998, aided by  commodity
     prices  which  began the year at reasonably high  levels.
     Tonnes  production from the group's own estates  totalled
     oil  palm 89,523 (up 36.2% on 1998's 65,711), rubber  784
     (1998:  643)  and cocoa 41 (1998: 67), with most  of  the
     increase in the second quarter, which offset the fall  in
     CPO  (crude  palm  oil) and rubber  prices  in  the  same
     quarter.

*    So  far,  the  group's properties, some of which  are  in
     relatively  remote areas, have suffered little disruption
     from the increased social instability in Indonesia.

*    It  is  expected that over 2,000 ha of oil palm  will  be
     planted on the group's new project in Bengkulu this  year
     bringing the immature area there to over 8,000 ha and  in
     the  group as a whole to some 10,000ha - about  the  same
     size  as  the mature area.  In addition, there remains  a
     land bank of almost 19,000ha.

*    Work  on  an application for a secondary listing  on  the
     Singapore   Stock  Exchange is in hand and  shareholders'
     approval  for  an accompanying share issue  in  Singapore
     will  be  sought when the board is satisfied that  market
     conditions will permit satisfactory terms to be obtained.

*    Mr  Chan Teik Huat, Chairman & CEO, stated 'Production is
     expected  to  be on target for the rest of the  year  and
     above expectations for the year as a whole.  In July, the
     export  tax  was  reduced to 10% and, in  September,  CPO
     prices improved to around $380/mt and the rupiah weakened
     to  over  Rp 8,000.  It remains to be seen whether  these
     improvements hold, but, if so, the effect on profits  for
     the  rest  of  the  year  will be  positive.   Events  in
     Indonesia  continue to be difficult to  predict  but  the
     board  remains confident in the long term  value  of  the
     company's  properties of which half the area is  immature
     and due to mature over the next four years.'

Enquiries:

Anglo-Eastern Plantations plc
  Rollo Barnes (Chief Financial Officer)          046 7777 338

Bankside Consultants Ltd                         0171-220 7477
  Charles Ponsonby


OVERVIEW

Profit  before exceptional items for the half year to 30  June
1999 increased by 89 per cent to $4,499,000 (1998: $2,376,000)
on   turnover   87  per  cent  higher  at  $9,211,000   (1998:
$4,934,000).  After exceptionals, notably a profit on exchange
of $1,971,000 in 1998, the pre-tax profit was still 5 per cent
higher at $4,579,000 (1998: $4,380,000).

Earnings  per share were 6.1cts or 3.8p compared to 5.1cts  or
3.1p in the same period in 1998.

This  result reflects a significant recovery in crops compared
to  the  first  half of 1998, aided by commodity prices  which
began the year at reasonably high levels.

So far the group's properties, some of which are in relatively
remote  areas,  have  suffered  little  disruption  from   the
increased  social instability in Indonesia.  Our  local  staff
have   continued  to  perform  admirably  in   the   difficult
circumstances they have occasionally had to face.

In  line  with previous policy, no interim dividend  is  being
declared.

PRODUCTION AND SALES
                                   1999       1998        1998
                              half year  half year        year
                                     to         to          to
                                30 June    30 June      31 Dec
                                   (un-       (un-
                               audited)   audited)
                                 Tonnes     Tonnes      Tonnes
Oil palm production
Fresh fruit bunches (FFB)
- own estates                    89,523     65,711     176,546

- bought in for processing       23,861        486       8,842
- processed for third parties         -     19,276      33,908

Saleable crude palm oil (CPO)    19,026     10,525      31,224

Oil palm sales
CPO                              19,120      8,535      29,012
FFB                              26,835     21,279      26,486

Other crops production
Rubber                              784        643       1,621
Cocoa                                41         67         206

FFB  and rubber production was up 36 per cent and 22 per  cent
respectively on the same period in 1998.  Most of the increase
came  in the second quarter, which offset the decrease in  CPO
and  rubber  prices in that period.  To improve the extraction
rate  of  our  mill, the policy of toll processing  for  third
parties  (in return for a fee) was changed in favour  of  only
buying  fruit from third parties where quality can  be  better
controlled.   This change partially accounts for the  increase
in sales volume and turnover.

PRICES

CPO  prices  fell steadily from over $600/mt (c.i.f.)  at  the
start of the year to $380 at the end of June and a low of $280
in  July.  Rubber and cocoa prices also weakened.  These falls
were  compounded in local currency terms in Indonesia  by  the
strengthening of the rupiah from   Rp 8,025:$ at the beginning
of  the  year to about Rp 6,850 in June.  In the case of  CPO,
the  effect  was  partly  offset by reductions  in  Indonesian
export  tax  from 60 per cent to 40 per cent in  February  and
then  to  30  per  cent in June, but this was  not  enough  to
prevent  a fall of 36 per cent in ex-factory prices  over  the
period.   Similar falls in FFB prices occurred in the  group's
Malaysian estates.

DEVELOPMENT

A  further  1,800ha of oil palm had been planted  on  the  new
Bengkulu estates up to the end of August bringing the total to
7,700ha and by the end of the year this figure should be  over
8,000ha.   The  2,000ha planted in 1997 is now being  prepared
for harvesting in the middle of next year.  Total immature oil
palm  in  the group now amounts to some 10,000ha -  about  the
same size as the mature area.

FAR EAST LISTING

With  the  improvement in Asian stock markets  this  year,  we
announced  in  July our intention to resume our search  for  a
listing  in South East Asia.  In the opinion of the  directors
the   comparatively  favourable  regulatory  regime  governing
listings  by  foreign companies in Singapore and the  relative
stability of the Singapore market favour Singapore.

Work  on an application to the Singapore Stock Exchange is  in
hand.  It is envisaged that this application should clear  all
verification  and procedural issues.  Thereafter shareholders'
approval  for  an accompanying share issue in  Singapore  will
only  be  sought  when  the  board is  satisfied  that  market
conditions will enable satisfactory terms to be obtained.

OUTLOOK

Production  is expected to be on target for the  rest  of  the
year and above expectations for the year as a whole.  In July,
the  export  tax was reduced to 10 per cent and, in September,
CPO  prices improved to around $380/mt and the rupiah weakened
to  over  Rp  8,000.   It  remains to be  seen  whether  these
improvements hold, but, if so, the effect on profits  for  the
rest of the year will be positive.

Events  in  Indonesia continue to be difficult to predict  but
the  board  remains confident in the long term  value  of  the
company's  properties of which half the area is  immature  and
due to mature over the next four years.


Chan Teik Huat
Chairman and Chief Executive                    4 October 1999



 PROFIT AND LOSS ACCOUNT FOR THE SIX MONTHS ENDED 30 JUNE 1999

                          US DOLLARS            STERLING
                      1999   1998           1999   1998
                      half   half    1998   half   half   1998
                      year   year    year   year   year   year
                        to     to      to     to     to     to
                    30 Jun 30 Jun  31 Dec 30 Jun 30 Jun 31 Dec
                      (un-    (un            (un    (un
                    audited)-audited)    -audited)-audited)
                NoteUS$000 US$000  US$000   £000   £000   £000

Turnover             9,211  4,934  14,944  5,757  2,990  8,997
                     =====  =====   =====  =====  =====  =====

Profit before
exceptional
items                4,499  2,376   8,718  2,812  1,440  5,248
Profit on sale
of interest
in subsidiary            -    340     239      -    206    144
Profit on sale
of UK
property                 -      -     387      -      -    233
Profit/(loss) on
sale of
current
investments              -   (305)  (305)      -   (185)  (183)
Write back
in provision
on current
investments            131     (2)    124     82     (1)    75
Exchange profits/
(losses)               (51) 1,971     503    (32) 1,195    302
                     -----  -----   -----  -----  -----  -----
Profit before
taxation             4,579  4,380   9,666  2,862  2,655  5,819

Taxation
Foreign corporation
tax                 (1,444)(1,530)(2,671)   (902)  (927)(1,608)
Prior year
provisions
written back             -      -      56      -      -     34
Foreign withholding
tax                   (210)   (21)  (555)   (131)   (13)  (334)
                     -----  -----   -----  -----  -----  -----
Profit after
taxation             2,925  2,829   6,496  1,829  1,715  3,911
Minority
interests             (510)  (688)(1,042)   (319)  (417)  (627)
                     -----  -----   -----  -----  -----  -----
Profit attributable
to
shareholders         2,415  2,141   5,454  1,510  1,298  3,284
Dividends                -      - (2,746)      -      - (1,652)
                     -----  -----   -----  -----  -----  -----
                     2,415  2,141   2,708  1,510  1,298  1,632
                     =====  =====   =====  =====  =====  =====

Earnings
per share        2  6.1cts 5.1cts 13.3cts   3.8p   3.1p   8.0p
Dividend
per share        3       -      -  7.0cts      -      -  4.34p

Av. shares in
issue (000)         39,385 41,587  41,005 39,385 41,587 41,005

NOTES

1. The  comparative  figures for the year  ended  31  December
   1998  are  an extract from the group's financial statements
   for  the  year which have been filed with the Registrar  of
   Companies  and  on which the auditors gave  an  unqualified
   opinion.
2. Earnings per share are calculated on the average number  of
   shares in issue.
3. The final and only dividend in respect of 1998 was paid  on
   16 June 1999.
4. Copies  of  the interim statement of results are  available
   from  the Company's registered office at 6/7 Queen  Street,
   London EC4N 1SP.