Result of AGM

Associated British Engineering PLC
19 September 2000
 
 
At the Annual General Meeting of Associated British Engineering plc held on
19 September 2000, the Chairman, J.H. Davies, drew shareholders' attention to
the fact that there was a deficit of distributable reserves in the parent
company and therefore, in spite of the substantial positive cash position of
the group, the company would not be permitted to make the preference share
dividend payment which would normally be due on 30 September 2000. The Board
has been considering ways of resolving this problem and expects to make
proposals to shareholders in due course. 
 
The Chairman also reported that negotiations were at an advanced stage for
the sale of the investment property in Havant, the contact for which would be
conditional 'inter alia' upon matters relating to environmental protection
legislation. 
 
At the AGM Messrs Brown and Pearce-Gould were elected directors and Mr Davies
re-elected a director on a show of hands, but a representative of more than
10% of the ordinary shares of the company requested a poll on the re-election
of Mr Davies. The poll will be held at the head office of the company on
Wednesday, 18 October 2000 at noon and shareholders will be kept informed.
All the other resolutions were approved. 
 
Enquires: 
 
J.H. Davies, Chairman     Tel: [phone]