Re Agreement

Rowe Evans Investments PLC
18 March 2002



                           ROWE EVANS INVESTMENTS PLC

                  OIL PALM AND RUBBER PLANTATIONS IN INDONESIA

                    Associated companies with plantation and
                 property-development interests in Malaysia and
                       cotton farming in Australia


                 Acquisition of 80% of PT Sembada Sennah Maju,
               owner of Sennah I Estate in North Sumatra, Indonesia

The board of Rowe Evans Investments PLC ('REI' or the 'Company') is pleased to
announce that an agreement has been exchanged for the acquisition by REI's 80%-
owned subsidiary, PT Pangkatan Indonesia, of 80% of the issued share capital of
PT Sembada Sennah Maju ('SSM'). The consideration for the acquisition is the sum
of £2.29 million less the amount by which the total liabilities of SSM exceed
its current assets.  This results in a downward adjustment to the purchase price
of £0.67 million, resulting in a final consideration of £1.62 million.  The
consideration will be satisfied in cash.  SSM's principal liability is a bank
loan of approximately £0.78 million and this loan will be discharged on
completion through funds provided by the REI Group.

SSM owns an oil palm and rubber plantation, Sennah I Estate, in North Sumatra,
Indonesia extending to approximately 1,800 hectares and is located near to two
of the Group's existing plantations, Pangkatan (2,586 hectares) and Bilah (2,961
hectares) Estates.  The aggregation of these three estates will result in there
being an area of oil palms of sufficient size to justify the construction of a
factory to process into crude palm oil the fresh fruit bunches (' f.f.b.')
produced from the estates. The f.f.b. from each of the three estates is
currently processed under contract by outside factories.

The board of REI is of the view that added value will be gained by processing
the f.f.b. from Pangkatan, Bilah and Sennah I Estates and selling the resulting
crude palm oil on either local or world markets.  The board of REI has approved,
in principle, the construction of a 30-tonne-per-hour palm oil mill which is
likely to be located on Pangkatan Estate. The mill is expected to cost around
£4.0 million and detailed costings will be undertaken as soon as the acquisition
of SSM is completed.

Sennah I Estate is currently planted as to approximately 500 hectares of rubber
and 1,100 hectares of oil palms.  It is the intention to replant the rubber into
oil palms over the next two years and, depending upon the yields achieved in the
existing oil palm areas, replant them with oil palms over the following five
years.

As at 31 December 2001, SSM had net liabilities of £0.43 million consisting of
fixed assets of £0.53 million, current assets of £0.02 million and current and
non-current liabilities of £0.98 million including the bank loan, referred to
above.  The fixed assets have not been revalued in SSM's books.  For the year
ended 31 December 2001, SSM recorded a loss after taxation of £0.41 million.

Plantation land in Indonesia is held under HGU's, long leases of between 25 and
30 years.  Sennah I Estate's HGU has recently been renewed and runs until 2032.



By order of the board

M.P. Evans (UK) Limited

Secretaries


18 March 2002

Enquiries:         Philip Fletcher

                   Telephone:           [phone]

                   Fax:                 01892 518639

                   E-mail:              [e-mail]





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