AGM Statement

Walker Greenbank PLC
14 July 2003

WALKER GREENBANK PLC


AGM STATEMENT



TRADING UPDATE AND SALE OF THE WARNER ARCHIVE FOR £2m



14 July 2003



At the AGM of the Company, which is to be held today, the Chairman will say:



'During the first five months of the current year trading conditions have
continued to disappoint and show no sign of improvement.  Even so, the Group
remains on course to report lower operating losses for the full year.  The focus
of management attention will remain on cash generation, debt reduction and
disposal of non-core assets.



To this end the Board is delighted to confirm that the Braintree District
Museum's bid to acquire the Warner Archive from the Group has received support
from The Heritage Lottery Fund with the notification of a 'Stage One Pass'.  The
project will now proceed to the final 'Stage Two Review', which, if successful,
will lead to the allocation of lottery funding to assist the Museum to acquire
the Archive and convert the Grade 2 Listed Warner's Mill building in Braintree
to accommodate the collection.  In the event that the project moves to a
successful completion funds of £2m approximately, which are anticipated to be
received by the Group in early 2004, will be used to reduce indebtedness and
support future investment.



This will place the Group in a strong position to benefit from any upturn in
demand or opportunities arising from consolidation within the industry'.



Enquiries:


David Medcalf, Chief Executive
Walker Greenbank PLC                                        Tel:  [phone]


John Sach, Group Finance Director
Walker Greenbank PLC                                        Tel:  [phone]


Ian Seaton, Bankside Consultants                            Tel:  [phone]







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