Chairmans AGM Statement

Kingspan Group PLC
23 May 2002

                               Kingspan Group plc

                Chairman's Remarks at the Annual General Meeting

                             Thursday 23rd May 2002

Kingspan's consistent and focused strategy in building strong market positions
and brands across Ireland, the UK and Continental Europe and latterly in the US,
has created a sound earnings base for future growth. Results for the first
quarter are in line to deliver our expectations for the full year.


The UK, which is our most important market and will represent about 60% of
turnover in the current year, continues to provide the potential for continued
growth. This is particularly the case in light of the new products launched this
year. US sales will represent 7% of group turnover this year. Trading here is in
line with the most recent indications that we gave in February. In Ireland, as
expected the market at present does not provide the same growth opportunities as
in previous years. Nevertheless, we continue to trade strongly in this market.


While US market conditions have made life more difficult for the Group in 2002,
given our product portfolio and the opportunities in all our geographic markets,
we are confident, subject to market conditions, the group can look forward to
earnings growth in the future.


Eugene Murtagh

Group Chairman and Chief Executive

Kingspan Group plc


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