Result of AGM

Monteagle Holdings
3 April 2002

Monteagle Holdings Societe Anonyme __________________________

Incorporated in Luxembourg - RC Luxembourg No. B 19600

Registered Office

6 rue Adolphe Fischer,

L-1520, Luxembourg



3rd April 2002





                               Proposed Dividend

The Annual General Meeting of Monteagle Holdings S.A. was held last week on 26th
March 2002.

At the meeting, all of the resolutions proposed, including the dividend of US
8.5 cents per share, were passed



By Order of the Board

City Group P.L.C.

Group Secretaries



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