AGM Statement

PZ CUSSONS PLC
25 September 2006





For immediate release                                   Monday 25 September 2006


                                  PZ Cussons Plc

                    Chairman's Statement to Shareholders at
                             Annual General Meeting

Anthony Green, Chairman of PZ Cussons Plc, will make the following statement to
shareholders at today's Annual General Meeting.

'As you are aware 2006 has been another year of successful development of the
group with operating profit before exceptional items reaching £60.2m, an
increase of 13%. This reflected good performances in all key territories, and
particularly Nigeria, together with the elimination of losses incurred last year
in Russia.

At a corporate level, following approval of the enfranchisement of the 'A'
non-voting shares and the repayment of preference share capital in June 2005,
the board is now proposing to shareholders at this meeting that a share split is
undertaken to subdivide the current Ordinary shares into 10 new Ordinary shares.

The reason for this is that we do believe that having a larger number of shares
with a lower nominal value will assist in improving their liquidity as well as
supporting the retention and widening of what already is a diverse shareholder
base.

Let me now turn to our markets, starting with Nigeria. There, I am very glad to
say that the political and economic situation has remained stable throughout the
year and we look forward to the continuation of this after the forthcoming
elections in the spring of 2007. Nigeria is also benefiting from the continuing
high price of oil as well as increased foreign investment in areas such as
telecoms and gas exploration. Not surprisingly this does mean that there is now
increased competition in terms of both our new business ventures and the
development of our current brand ranges. I must stress however that we do have
very great strengths with over 100 years' experience, a formidable distribution
system with depots throughout the country and a highly capable and motivated
management team.

I would therefore like to update you on the key initiatives which our Nigerian
business is undertaking:

Firstly, in terms of the core businesses of soaps, detergents and health and
beauty products, strong brand renovation and a sustained margin improvement
programme continue to support our business growth. In addition, we are
continuing to invest significantly in our manufacturing sites by increasing
capacities and investing in infrastructure, such as our own gas power generation
capability which is now fully on stream.

Secondly, our electrical goods business, HPZ, which is run in conjunction with
our Chinese partners Haier, has, for the second year running, experienced
significant growth, with considerable consumer demand for fridges, freezers,
air-conditioners and other electrical products, a sign that consumer spending
power is increasing. This growth is continuing into the current financial year.

And thirdly, our joint venture with our Irish partners Glanbia is progressing
extremely well. The milk factory which is of a standard comparable to anything
in Europe or the United States was opened by the Nigerian President His
Excellency Olusegun Obasanjo late last year and is producing both powdered and
evaporated milk and sales continue to exceed expectations. Work has now begun to
extend the current milk factory to provide additional capacity and plans to
invest in the development of further nutritional products are at an advanced
stage.

Let me turn now to Asia; in Australia turnover and profitability improved last
year despite increases in raw material and freight costs. The newly acquired
Trix dishwash brand grew our total dishwash market share and is now successfully
integrated within the business. Trading in Indonesia was challenging last year
on both the demand and supply side with pressure on consumer disposable income
and higher raw material and energy costs. Focus this year in Indonesia is on the
core ranges such as Cussons Baby which has a number one position in terms of
market share and both turnover and profitability are improving. Our new Group
bar soap factory in Thailand was successfully commissioned on time last year and
is already supplying soap to both the UK and Australian markets.

Turning to Europe; In the UK, the consumer market as ever remains price
competitive, with increasing levels of promotional support necessary. I am very
pleased to advise however that results for the first three months are in line
with expectations and our major brands continue to gain market share through
innovative new product launches. In particular, the roll out of the Charles
Worthington haircare range to the nationwide trade is progressing to plan with a
favourable consumer response. As disclosed in the Annual Report and Accounts,
the group will be constructing a new, purpose built liquids factory in North
Manchester.

Following the elimination of losses last year in Poland, the current year is
also progressing to plan. The Greek business has seen the launch of new
products, such as Minerva Benecol margarine, and turnover is growing.

We are recommending a final dividend of 29.5p per share, which, together with
the interim dividend of 9.3p means an increase of 10.1% on last year.
Turning to the current financial year I am delighted to advise that at the end
of the first quarter the Group operating results are in line with budget.

Our Group has continued to lay the solid foundations for our future growth
particularly in Nigeria, UK, Australia and Indonesia, in other words, our major
markets.

Our focus remains on selected markets, leading brands and first class
distribution. We also continue with a sustained margin improvement programme to
counter ongoing cost increases and the weak dollar.

We fully realise there are therefore exciting and significant growth
opportunities that are open to us and, together with a strong balance sheet, we
face the future with considerable optimism.

Finally, as I said last year, our business like any business at the end of the
day is about people. With the growth that we have planned the recruitment,
training and retention of top quality people again becomes ever more important
and we are giving top priority to specific personnel development programmes.

I would like to close by thanking all our staff throughout the Group whose hard
work and dedication has made these results possible.'

For further information contact

Graham Calder, Deputy Chairman                                     0161 491 8000

PZ Cussons Plc

Terry Garrett / John Moriarty                                      0207 067 0700

Weber Shandwick Square Mile



                      This information is provided by RNS
            The company news service from the London Stock Exchange
             RKVGVZG