AGM Statement

Teather & Greenwood Holdings PLC
12 August 2002



                        TEATHER & GREENWOOD HOLDINGS PLC

                             AGM trading statement


At today's Annual General Meeting of Teather & Greenwood Holdings plc ('Teather
& Greenwood' or 'the Group'), Jeremy Delmar-Morgan, Chairman, made the following
comments:

'In the light of depressed stock market conditions, the Board of Teather &
Greenwood has been pursuing a strategy of aligning the running costs of the
Group with revenues, so that we can operate profitably on the basis of the
recent levels of market activity.

'Since the end of the past financial year we have achieved a cut in our overall
operating costs from £38 million, as published in the latest Annual Report, to
an annualised rate on 1 May of £30 million. This has since been further reduced
to an annualised £26 million and is targeted to fall in the near future to £21.5
million. Staff numbers have fallen from a total of 301 a year ago to 235 on 1
May and will fall to approximately 200.

'Since 1 May, corporate finance has worked on a number of successful
transactions, including the £145 million acquisition of Esporta by Duke Street
Leisure Investments Limited.  In addition the team has raised over £70 million
and added 5 new brokerships to our client list.

'Whilst we do not see an end, in the short term, to the subdued trading outlook,
the Board will continue to restructure the Group in order to achieve a sound and
profitable business, whatever the market conditions.'

12 August 2002




ENQUIRIES:


Teather & Greenwood                                      Tel: [phone]

Ken Ford, Chief Executive
Nick Stagg, Chief Operating Officer

College Hill                                            Tel: [phone]
Richard Pearson
Gareth David





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