AGM Statement

Photo-Me International PLC
01 November 2002



                           PHOTO-ME INTERNATIONAL PLC

                            Chairman's AGM Statement


At PMI's AGM this morning, Dan David, Chairman, will give the following update
on current trading and prospects.


'PMI's cash generative Operations business, involving some 20,000 photobooths
world-wide, is performing ahead of expectations.  With regard to PMI's three
principal operating territories, Continental Europe is trading well, whilst the
UK and Japan are recovering from, respectively, the effects of predatory
competition and prolonged recession.


Conversely, PMI's business of manufacturing digital photoprocessing minilabs in
Grenoble, France is suffering from the fact that it is taking longer than
expected to move to volume production of its new DKS 1500 minilab (which can
make up to 1,500 prints an hour). Consequently, the DKS 1500 is now unlikely to
contribute materially to sales and profits in the current financial year ending
30 April 2003.  However, prototypes of the DKS 1500 are already performing to a
high standard and the machine, including the variant for Kodak (System 89), was
shown to advantage at Photokina in Cologne - the imaging industry's principal
exhibition - at the end of September.



The net result will be that the current financial year, in line with current
expectations, will be loss-making.  Nevertheless, 2003/04 should register a
material improvement.'








Enquiries:

Photo-Me International plc                                        01372-453 399
  Serge Crasnianski (Chief Executive Officer)


Bankside Consultants Limited
  Charles Ponsonby                                                020-7444 4166




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