AGM Statement

Dinkie Heel PLC
11 July 2003

At the annual general meeting of Dinkie Heel plc held today the Chairman, Mr
Richard Organ, said :



'You may well be aware, following the announcement to the London Stock Exchange
on 27 June, that contracts have been exchanged for the sale of the Bristol
freehold premises at a value in excess of £950,000, realising a profit of
£200,000 over book value. In addition, I am pleased today to confirm that Heads
of Terms have also now been agreed for the two long leasehold properties
adjacent to the main factory in Bristol.



I am also pleased to be able to report that the production and trading position
in Botswana has been improving slowly but surely, with output levels beginning
to match order intake levels, and the business is now close to financial
breakeven. The second half should see further considerable progress as the
commissioning of additional heat treatment facilities sent out from Bristol
enables the business to move steadily into profit.



Overall, Dinkie Heel plc is trading closely in line with the detailed plans it
prepared early in the year, both in terms of cash and operating profits. The
Davies Odell division, which will be the core of the business from 2004 onwards,
has begun the year with profitability somewhat ahead of last year and well ahead
of plan despite tough trading conditions in some of its key markets.'






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