AGM Statement

Deltex Medical Group PLC
30 July 2004



30 July 2004



Deltex Medical Group plc ('Deltex Medical' / 'Company')



                 Annual General Meeting - Chairman's statement



Deltex Medical Group plc, the AIM listed haemodynamic monitoring company held
its Annual General Meeting at 12 noon today.



In a statement to the meeting Deltex Medical's chairman, Nigel Keen said:



'Deltex Medical's opportunity and its goal is to make haemodynamic optimisation
guided by the CardioQTM a standard of care in operating theatres, intensive care
units and accident and emergency departments worldwide.  This will provide
doctors with information they need to guide therapy which helps make their
patients better, quicker.



Deltex Medical continues to make progress in many areas.  Our key priority has
been to demonstrate that the significant potential benefits of wide-scale usage
of the CardioQ really can be delivered on a day-to-day basis in a typical UK NHS
district general hospital.



Earlier this month we announced the conclusions of the Medway Maritime Hospital
following its independent internal review of adopting the CardioQ technology on
a wide-scale, which showed average reductions in length of hospital stay of over
two days per patient across a broad range of moderate and major surgical
procedures.  The hospital showed conclusively that the benefits of freeing up
beds on this scale outweigh many times over the costs of implementing the
technology which means that the hospital can offer better care to more patients
within its current budgets.  The hospital's managers are now working with its
doctors to maximise the benefits of the CardioQ by encouraging its use on large
numbers of patients.



Positive and consistent feedback from the other hospitals in the UK auditing the
impact of adopting the CardioQ on a wide-scale and a continuing stream of
supportive clinical trials supports the Board's view that Deltex Medical has
turned a crucial corner in its development.  The question for UK hospitals ought
no longer to be 'if' they should adopt the CardioQ on a wide-scale, but 'when'.



Earlier this week we announced that Sir Duncan Nichol, a former chief executive
of the NHS, is joining Deltex Medical's Board as a non-executive director.
Duncan will be working to help us develop strategies towards delivering our
primary marketing objective in the UK which is to make those people who control
NHS budgets aware that wide-scale investment in the CardioQ should be given the
very highest priority.



In our other core markets in Europe and in the USA we have made considerable
progress in our understanding of the economic and clinical drivers behind
changes in standards of care.  We are now tailoring the models developed in the
UK to enable us to move the first batches of hospitals using the CardioQ towards
adopting the system as a standard of care.



In Europe we have increased the range of products on the market to include nasal
probes for both sedated and awake patients for use in both critical care and
operating theatres.  We have also launched a new version of the CardioQ for
paediatric use and a new probe which can be used on young babies.



Early sales of the awake patient probes launched in December 2003 have been
encouraging: there is a clear and growing market awareness of the benefits of
monitoring awake patients both in operating theatres and in critical care.  We
are in the process of improving the physical characteristics of these probes
based on customer feedback and in addition are actively pursuing enhancements to
the wholly non-invasive SupraQTM version of the CardioQ to make it both
clinically and commercially viable.



Evolution Beeson Gregory has exercised an option over 1,500,000 ordinary shares
which was given to it at the time of the AIM flotation in November 2001. The new
shares were issued at the option price of 25p per share which has generated
£375,000 of new capital for the Company. The new shares have been placed with
investors. Application has been made for all of the 1,500,000 new ordinary
shares to be admitted to trading on AIM on Monday 2 August 2004 and following
this there will be 63,201,957 ordinary shares in issue.



Trading in the first half has been according to the Board's expectations and we
look forward to the second half with confidence as the adoption of the CardioQ
as a standard of care grows, particularly in our home market of the UK.'



All resolutions put to shareholders at the Annual General Meeting have been
passed.



Enquiries



Deltex Medical Group plc
Nigel Keen, Chairman                 [e-mail]          01243 774 837
Andy Hill, Chief Executive           [e-mail]           01243 774 837
Ewan Phillips, Finance Director      [e-mail]       01243 774 837



Financial Dynamics
David Yates                          [e-mail]                    0207 831 3113
Lucy Briggs                          [e-mail]                    0207 831 3113



Notes for Editors



Deltex Medical manufactures and markets the CardioQ monitor, which uses
disposable ultra-sound probes inserted into the oesophagus to determine the
amount of blood being pumped around the body - 'circulating blood volume'.
Reduced circulating blood volume is known as hypovolemia, which leads to
insufficient oxygen being delivered to the organs.  This causes medical
complications including peripheral and major organ failure which can lead to
death.  Hypovolemia, which is akin to severe dehydration, affects virtually
every patient having surgery because of the combined effects of pre-operative
starvation, the impact of the anaesthetic agents and trauma from the surgery
itself.  Using fluids and drugs, guided by the CardioQ, to optimise the amount
of circulating blood significantly reduces post-operative complications allowing
patients to make a faster, more complete recovery and return home earlier.



The CardioQ incorporates the Company's proprietary software and a small
diameter, easy-to-use, minimally invasive, disposable oesophageal probe that is
used for transmitting and receiving an ultra-sound signal. By using this
technology, the CardioQ provides clinicians with the ability to haemodynamically
optimise critically ill patients and those undergoing routine moderate to major
surgery through the controlled administration of fluid and drugs. Haemodynamic
optimisation has been scientifically proven to improve the speed and quality of
patient recovery and reduce hospital stay.



There are already over 1,250 CardioQs currently in use in hospitals worldwide
and distribution arrangements are in place in over 30 countries. In addition,
there are currently more than 90 clinical publications on the use of the CardioQ
which have repeatedly:-



•         validated the results of the Monitor against known standards for
measuring cardiac output, demonstrating that the technology works



•         proved that the CardioQ works in a wide range of surgical procedures



•         demonstrated that the Company's technology provides significant health
and economic benefits by helping to reduce post-operative complications and
length of hospital stays by an average of 30 to 40 per cent for a wide range of
patients.


                      This information is provided by RNS
            The company news service from the London Stock Exchange