AGM Statement

Ascot PLC
1 June 2000


Date                 1 June 2000

Contact              Howard Dyer, Executive Chairman
                     Ascot Plc                            020 7815 0805

                     David Bick
                     Holborn Public Relations             020 7929 5599
                                             [e-mail]       
          


Ascot Plc

AGM STATEMENT 


'In line with my statement at the time of the full year's results, Speciality
Chemicals continues to perform strongly and is expected to do so for the
balance of the year.  Fine Chemicals' sales in the first half, as anticipated,
reflect the lack of orders for a key intermediate following destocking by our
customer but should recover in the second half of the year.  The commissioning
of two major fine chemicals plants for small scale and multi-tonne
manufacturing to best practice also remains on track for the second half. 
ChiroTech's pipeline is growing and now contains a number of diverse compounds
in various stages of development.

Our disposal programme announced in January is underway.  We have prepared and
circulated to a number of interested parties information memoranda covering
the sale of the engineering businesses and are in the process of preparing
memoranda for the sale of the refrigeration businesses.  The sale of these
businesses will enable us to focus exclusively on our chemical businesses
which have world leading positions.'