AGM Statement

Pendragon PLC
15 April 2004

                                                                       NO:   431

                         PENDRAGON PLC ('Pendragon')

                                 AGM STATEMENT

At today's Annual General Meeting of Pendragon PLC, the Chairman, Sir Nigel
Rudd, made the following statement:

'In 2003 Pendragon achieved strong earnings growth and reduced borrowings by
another year of strong operating cash inflow. The UK national new car market in
2003 was 2.6 million, marginally ahead of the previous year.

The new car market in the UK, our principal market, continues to be buoyant with
new car registrations in the first quarter up by six per cent over 2003.
Industry analysts are forecasting the full year market to be around 2.5 million.
Sales in the USA of brands which we represent there were down slightly in the
first quarter versus the same period last year. Overall trading in the enlarged
Pendragon group has started the year in line with expectations.

At the end of February 2004 we successfully completed the acquisition of CD
Bramall Plc adding 133 franchises to the group. Over the last six weeks we have
started to integrate the new businesses, in terms of structure and processes,
with the existing business. We are pleased with the progress we have made to
date and look forward to realising the benefits of this acquisition for
shareholders. There is still much to be done over the coming months and a more
detailed update will be included in our interim statement, which will be issued
with our results in August.

Looking ahead, we have a strong and stable business platform and a balanced
franchise portfolio that covers volume and specialist brands with excellent
profitability and strong cash flow. The favourable new car market in the UK is
forecast to continue and the enlarged group will have opportunities to generate
further economies of scale. We remain confident that we will achieve our
expectations for the current year.'

Enquiries

Pendragon PLC             Trevor Finn          Tel: [phone] 
                          David Forsyth



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