AGM Statement

Provident Financial PLC
1 May 2002


At the company's Annual General Meeting held in Bradford today, Mr John van
Kuffeler, Chairman of Provident Financial plc, told shareholders:

'The overall trading performance of the group in the first quarter of 2002 has
been broadly in line with expectations.

In the UK home credit division customer numbers, credit issued and profit are
developing as we expected. We continue to expect steady growth from the division
for 2002, at a similar rate to that for 2001.

The international division experienced slower than expected growth at the start
of the year due to severe weather conditions in Poland and the Czech republic in
the early weeks of January. Despite this, customer numbers increased by 42,000
(6%), from 708,000 to 750,000 in the 3 months to 31 March 2002. Poland continued
to deliver the greatest growth with customer numbers increasing from 504,000 at
31 December 2001 to 532,000. Customer numbers in the Czech republic increased
from 189,000 to 193,000, in Hungary from 10,000 to 17,000 and in Slovakia from
5,000 to 8,000. We continue to expect strong growth in customer numbers, credit
issued and profit for 2002 as a whole.

The motor insurance division had a better than expected first quarter. We
increased our premium rates by 2% in the first quarter, in line with both claims
inflation and market rates. Policyholder numbers continued to grow, although at
slower rate than seen in 2001, rising by 1% from 855,000 at 31 December 2001 to
862,000 at 31 March 2002. We continue to believe conditions in the motor
insurance market are at the top of the cycle and caution that a downturn in
margins may begin in 2002.'



As previously announced, John van Kuffeler has today moved from Executive to
Non-Executive Chairman.

Enquiries: David Stevenson, Communications Manager 01274 731111



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