Result of AGM

Billam PLC
1 May 2001

                                   Billam Plc

                    Annual General Meeting held 1 May 2001

At the AGM held on 1 May 2001, all ordinary and special resolutions were
passed. Victor Beamish, the Chairman, reported that Billam Plc had performed
exceptionally well during the period under review, 1 June - 31 December 2000,
with the Company showing excellent profits and growth in net assets of some
300%.

He said the results vindicated the Board's strategy of making a number of
relatively large investments in companies exploiting the business to business
application of digital technologies which offer quantifiable benefits to end
users.  In the period from 1 June 2000 to date, three investee companies had
made initial public offerings, two on AIM and one on the Neurmarkt.  The
Chairman further reported net asset value at 16 March 2001 (as reported in the
company's annual report) was 1.84 pence per share.

Outlook

The Chairman reiterated that prospects for the current year are exciting.  He
remains enthusiastic about Billam's ability to establish itself as a serious
investment company able to identify growth sectors and market opportunities.

Further information please contact:
Peter Hoskins               020 7702 5544