AGM Statement

Billam PLC
23 March 2005


                                   Billam Plc

                             AGM and EGM statements

Annual General Meeting

At the meeting Victor Beamish chairman, reported that there had been no change
in the Company's trading since his statement in the Accounts issued on 14
February 2005. Billam Plc's investee companies continue to show encouraging
signs of growth and this should continue to benefit our Company.

At today's Annual General Meeting all the motions were duly passed.

Extraordinary General Meeting

At today's Extraordinary General Meeting of Billam Plc the resolution was duly
passed.

At the meeting Victor Beamish explained the reasons for the proposals:
specifically that whilst every shareholder is valued by Billam a significant
number of smaller shareholders found it uneconomic to realise their investment.
Also, the material cost to the Company of maintaining a large share register.

He further explained that the special trading arrangements offered to
shareholders who own 500 or fewer shares since 1 March 2005 had been taken up by
394 shareholders. This facility continues to 30 March 2005.

Mr Beamish said, 'Following the passing of the resolution that the current
ordinary shares of 10 pence will continue until close of business on Friday 8
April, the Record Date, the Ordinary Shares will then be consolidated on the
basis of 1 for 500 into Intermediate Ordinary Shares. Fractions of Intermediate
Ordinary Shares (any holding or part holding of Ordinary Shares not exactly
divisible by 500) will be aggregated, where possible, and sold in the market for
the benefit of Shareholders and distributed to them, except that any proceeds
after deduction of expenses of sale less than £2.00 would be sold for the
benefit of the Company.

'Before the start of business on Monday 11 April each Intermediate Ordinary
Share will be sub-divided into 250 New Ordinary Shares. Trading in the New
Ordinary Shares of 20 pence is expected to commence at start of business on
Monday 11 April 2005. After the Record Date and pending the receipt of new
certificates, transfers of New Ordinary Shares held in certificated form will be
certified against the register of members of the Company.

'New certificates will be sent to holders of the New Ordinary Shares of 20
pence.'

Enquiries:

Bishopsgate Communications 020 7430 1600
Maxine Barnes / Dominic Barretto



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