Result of EGM etc

Billam PLC
30 May 2000

                                  BILLAM PLC                                  
                                                                              
                      RESULTS OF CREDITORS MEETING & EGM                      

Billam  announces  that the voluntary arrangement proposed to  creditors  this
morning  was  accepted.   At  the Company's EGM, held  immediately  after  the
creditors  meeting,  the shareholders of Billam plc voted  in  favour  of  all
resolutions put to the meeting.

Accordingly, Billam announces that its working capital position has  now  been
clarified  by  raising  approximately £1.4  million  through  the  placing  of
483,068,000 Ordinary Shares.  The enlarged issued share capital of  Billam  is
now up to 516,222,000 Ordinary Shares of 0.1p each.

Application  has been made to the London Stock Exchange for the suspension  of
Billam's shares to be lifted and for trading to commence again at 8.00 am on 1
June 2000.

For further information contact:

Angus Forrest  0207 7251 9111
Peter Hoskins  0207 7251 9111