Trading Statement

Renold PLC
02 October 2003


                                  RENOLD PLC

                               TRADING STATEMENT


Following the completion of the first half of the trading year the Board of
Renold plc are making the following statement.


Conditions in the Group's main chain and power transmission markets in Europe
and North America were weaker in August and September and as a result the
underlying profit for the first half will be lower than last year. However,
given the actions already taken and a stronger forward order book, indications
remain that the underlying profit for the full year is likely to exceed that of
2002/03.


The automotive business continues to grow and the benefits of new capacity are
progressively resolving the production problems encountered during 2002/03.


The machine tool and rotor business continues to hold up relatively well in a
depressed market.


In addition, the first half will benefit from an exceptional profit of £2.8m
reflecting the profit on the sale of the former Jones & Shipman site at
Leicester


Cash management continues to be given high priority and borrowings at the end of
September, helped by the land sale, were lower than at the previous year end.


The Interim Results are expected to be announced on 10th November 2003.



Contacts:  Ian Trotter   -    Chief Executive           Telephone [phone]
           Steve Mole    -    Group Finance Director    Telephone [phone]



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