AGM Statement

Symphony Plastic Technologies PLC
16 July 2004


                                                                    16 July 2004
                                                           For Immediate Release



                          Symphony Plastic Technologies plc

                        Annual General Meeting ('AGM') Statement


Symphony Plastic Technologies plc ('Symphony'), a leading international
developer and supplier of degradable plastics, is pleased to announce that at
its Annual General Meeting ('AGM') held today, all resolutions were duly passed.


At the AGM, Nirj Deva, Chairman of Symphony, made the following statement:


'The last year has seen fundamental advances, both in the degradable plastics
industry and more importantly, in Symphony Plastic's positioning within the
sector.


The level of interest in environmentally responsible products amongst customers,
legislators and the general public is running at an all time high and Symphony
is now in an excellent position to take advantage of this increased awareness.


I am pleased to say that Symphony has moved without interruption from the
restrictive arrangement with EPI, our previous technology provider, to a
situation today where we have ownership of our own intellectual property, which
we are free to exploit. This has enabled us to extend our focus beyond the UK
market and also to initiate development of exciting applications, other than
non-commodity type products such as carrier bags and refuse sacks.


During 2003, sales increased by 89% to £7.63 million. There has also been a
significant reduction in the pre exceptional operating loss over the last three
consecutive half years from £1.06 million in H2 2002, to £0.47 million in H2
2003.  Our policy since the middle of 2003 has been to focus on margin
improvement and to reduce operating costs throughout the business. We achieved a
reduction in operating costs in H2 2003 which is continuing at the reduced level
in 2004.


The termination of the EPI licence and the subsequent legal challenge had a
significant impact on our 2003 results: £1.7 million of exceptional costs were
accounted for last year, of which £1.26 million was the write off of the
intangible licence fee asset.


We remain confident that the claim is unmeritorious.  However, we have provided
in full in the 2003 results for the unrecoverable costs of the claim should it
proceed to trial and Symphony succeeds in its defence. The trial is currently
scheduled for the end of November 2004.


We remain an operationally geared business and our working capital cycle is
financed by both trade finance houses and traditional debtor discounting.  Our
facilities are sufficient to service our current trading levels as well as
future sales expansion.


Over the coming months it is our intention to increase the non executive
representation on Symphony's Board and an announcement, regarding this matter,
will be made in due course.'


For more information, please contact:



For further information:
Symphony Plastic Technology Plc
Michael Laurier, CEO                      [phone]


Durlacher Limited
Matthew Robinson / Marcus Jackson         [phone]


Citigate Dewe Rogerson
Victoria Brough / Ged Brumby              [phone]








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