AGM Statement

Fisher (James) & Sons PLC
02 May 2003


                             JAMES FISHER & SONS PLC

                            CHAIRMAN'S AGM STATEMENT


James Fisher, the leading marine services provider, today held its Annual
General Meeting at 12.00 noon in Barrow-in-Furness.

Prior to the formal proceedings of the AGM, Tim Harris, Chairman, made the
following statement to shareholders about current trading and future outlook:

I am pleased to report that trading in the year to date has been encouraging.
The Tankships business has benefited from a better spot market than last year.
Our cable layers, Oceanic Princess and Oceanic Pearl, continue their five year
charters to ITG. Nexus has been in lay-up since her charter to Global Marine
ended last December. Although we are in active discussion about her future
employment, we have not concluded anything yet.

We have made considerable progress in establishing the group as a marine service
provider and the profit from our Marine Support Division will increase
significantly this year becoming a major contributor to our overall profit. We
are benefiting from the Rumic and Scan Tech acquisitions, and the first full
year contribution from our investment in the AWSR military RoRo joint venture.
All three new businesses are trading up to management expectations.

Despite the delay in finding alternative employment for Nexus, based on trading
to date, your Board remains confident of a satisfactory outturn to the year.


For further information

James Fisher and Sons plc
Tim Harris, Chairman
Angus Buchanan, Chief Executive
01229 615503

Binns & Co PR
Paul McManus
020 7786 9600


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