AGM Statement

Zotefoams PLC
01 May 2003


1st May 2003


                                 Zotefoams plc

                                 AGM Statement


At the Annual General Meeting held today the Chairman, Bill Fairservice, gave
the following update to shareholders:

'We were pleased with our sales growth last year, which was achieved despite
difficult market conditions.  After a slow start to this year, sales activity
has now increased and we continue to expect moderate sales growth in 2003,
although markets remain difficult.

As we predicted, raw material prices have increased substantially in the first
quarter and there has also been an unexpected property rates increase, including
a retrospective assessment for 2002.  However, current exchange rates have
worked in our favour and our anticipated sales growth is in line with our
expectations.  The board remains confident of the outcome for the year.'



                                     -ENDS-


Enquiries:

Zotefoams plc                                         020 8664 1600

David Stirling, Managing Director
Clifford Hurst, Finance Director

Financial Dynamics                                    020 7831 3113

Charlie Armitstead


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