AGM Statement

BAE SYSTEMS PLC 05 May 2004 5 May 2004 At BAE Systems AGM today, the Company re-confirmed its outlook position for 2004 as: Trading in the first few months of the year has been consistent with the outlook for the Group as indicated at the time that we issued the preliminary announcement of the 2003 results. That is for good sustained underlying growth across the Company's operations in North America and in International Partnerships, with some recovery in the Avionics business. The performance of the Programmes business is expected to continue to be restrained with some UK MoD production programmes still in early phases of maturity. Margins in Customer Solutions and Support are likely to continue to trend downwards. Overall, the underlying performance of the Company's defence businesses in 2004 is expected to be slightly ahead of 2003. Airbus plans a volume of activity for 2004 similar to 2003, with a slightly lower value mix of deliveries. Issued by BAE Systems plc, London This information is provided by RNS The company news service from the London Stock Exchange

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BAE Systems (BA.)
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