AGM Statement

Bunzl PLC
19 May 2004

                                                                     19 May 2004

                          BUNZL ANNUAL GENERAL MEETING

In a statement at today's AGM, Anthony Habgood, Chairman of Bunzl plc, said
that, in an improved but still uncertain international economic climate, current
trading remains satisfactory. He indicated that organic volume growth in
Outsourcing Services is moderating as a result of ongoing pressures on the US
supermarket industry while good volume growth in redistribution and food
processors has continued. Furthermore, in Europe, the priority remains to extend
Bunzl's footprint, to integrate acquisitions and to raise margins. He went on to
say that, while price levels in the US entered 2004 somewhat below those in 2003
and future trends remain uncertain, prices of the majority of product categories
are moving upwards during 2004. With respect to currency movements, he further
indicated that, while the dollar is currently stronger than it was earlier this
year, its weakness compared to the first half of 2003 will influence the
translation of Bunzl's dollar results into sterling.

He reiterated that the combination of volume growth, the opportunities provided
by acquisition activity and Bunzl's strong position in its markets gives the
Board confidence that the prospects of the Group are good and that the business
will continue to develop satisfactorily.

Enquiries

Bunzl plc:                                         Finsbury:
Anthony Habgood, Chairman                          Roland Rudd
David Williams, Finance Director                   Morgan Bone
Tel: [phone]                                 Tel: [phone]





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