AGM Statement

Carr's Milling Industries PLC
06 January 2005



                         CARR'S MILLING INDUSTRIES PLC

                                 AGM STATEMENT

At this morning's AGM in Carlisle of Carr's, the Cumbria-based agriculture, food
and engineering group, the following statement will be made:

'In the year under review, pre-tax profit increased by 12.3% (adjusted) to a
record £5.13m. Earnings per share increased even more, by 15.0% (adjusted), to
39.9p. This was the sixth successive annual increase in adjusted earnings per
share.

The Preliminary Announcement of Results announced on 8 November 2004 stated that
the current year was expected to show further progress in all three Divisions,
especially in Food. The first four months of the new financial year have started
well:

   •The Food Division as expected is progressing more than the other two
    Divisions as a result of two factors affecting its core flour milling
    business. The first is a return towards more normal gross margins following
    the exceptional increase in the wheat price in the first half of last year;
    additionally, volumes have increased. The second is the acquisition of
    Meneba UK Holdings Limited with its two mills in Kirkcaldy, Fife, and
    Maldon, Essex, where trading since completion on 18 November 2004 has been
    slightly ahead of expectations. This acquisition more than doubles the size
    of our flour milling business and gives it a strong market presence in the
    northern part of the UK.


   •The Agriculture Division, the largest of the Group's three Divisions,
    continues to trade satisfactorily, particularly with a strong performance in
    the equine feed market in both the UK and Continental Europe.


   •The Engineering Division, which in the year under review substantially
    improved its performance to break even, is benefiting from a stronger order
    book and better margins. Further out, the Division should benefit from the
    relocation in August 2005 of Bendalls, its high-integrity welding business,
    to a new 55,000 sq ft factory at Kingstown Industrial Estate, Carlisle, from
    its present site at London Road, Carlisle. As announced in October 2004, the
    £5.3m disposal of the London Road site is expected to generate a profit of
    approximately £4.5m, which will be accounted for as an exceptional gain in
    the current year to 3 September 2005.

The progress expected for the full year should also be manifested in the interim
results for the 26 weeks ending 26 February 2005, which it is expected will be
announced in the second half of April 2005.'

Enquiries:
Carr's Milling Industries PLC                                    01228-554 600
Chris Holmes (Chief Executive Officer)
Ron Wood (Finance Director)

Bankside Consultants Limited
Charles Ponsonby                                                 020-7444 4166




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