Chairman's AGM Statement

VICTORIA PLC
19 July 1999


                        Victoria PLC
                   Annual General Meeting
                              
      'Strong first quarter performance from Victoria'
                              
                              
At  today's  Annual  General Meeting, Bob Gilbert,  Chairman
told shareholders:

'Sales in the UK began at a subdued level and now have begun
to  show  signs  of  an upturn. We are  hopeful  that  lower
interest  rates,  and  the more active housing  market  will
reflect in stronger sales in the autumn. In the meantime, an
outstanding  reception to our newly launched  'Tudor  Twist'
range and the continued success of our other new products is
pleasing.

'In  Australia, the strong performance has continued through
the first quarter of this new financial year.

'However, exports from the UK remain depressed, but  we  are
optimistic  that business in our main European markets  will
pick  up  towards the end of 1999. As we have said, we  have
the  right  customer base and products  and  now  just  need
Sterling to return to a more realistic level.

'Overall,  despite  the  generally tough  market  conditions
already widely commented on, we have ended the first quarter
ahead  of budget and we look forward with renewed confidence
that this performance will continue.

'With regard to the property disposal, we have made positive
progress   on  the  sale  of  our  Green  Street   site   in
Kidderminster. As you will recall, we sold the property  for
£3 million to Morbaine Limited, subject to planning consent.
I  am  pleased to be able to report that the Local Authority
approved  the  planning application on 22nd  June,1999  and,
whilst,  this  could still be affected by a possible  'call-
in', we are hopeful that we will bring the sale of the Green
Street  property to shareholders for approval later  in  the
year,  once  all  the  other conditions  have  finally  been
cleared.'


Enquiries:
Bob Gilbert, Chairman
Alan   Bullock,  
Group  Managing  Director    
Victoria PLC                         Fiona  Tooley,Director
Tel: [phone]                    Citigate Dewe  Rogerson Limited
                                     Tel: [phone]