Period End Trading Update

Zotefoams PLC
16 December 2003

16 December 2003


                         Zotefoams plc ('the Company')
                           Period End Trading Update


Further to the trading statement of 14 November 2003, Zotefoams today provides a
trading update prior to the Company's year end on 31 December 2003.

Trading conditions have remained in line with those described on 14 November
2003.  Sales in North America have been strong in 2003 and the Board expects
North American sales to continue to grow in 2004.   In addition, the Board
expects North American margins to benefit in 2004 from corrective actions taken
during the course of this year.

As previously announced, UK sales have declined in 2003; a significant component
of which is a reduction in demand from a major OEM customer due to adverse
conditions in its key export markets. Although market conditions have been
difficult in continental Europe the Board is disappointed in the performance in
this region and 2003 sales in constant currency will be below those achieved in
2002.

Group sales and profits remain in line with revised expectations, with sales for
2003 likely to be at a similar level to last year.  Costs, as previously
indicated, have increased due to non-recurring additional costs in North America
and increases in depreciation and rates.  The Board therefore continues to
expect that profit for the full year will be around half that for the year ended
31 December 2002.

In view of the disappointing trading performance in the current financial year
the Board believes that a total dividend of 4.5p per share (2002: 7.5p) for the
year is a more appropriate level and having paid an interim dividend of 2.5p per
share intends to propose a final dividend for the year ending 31 December 2003
of 2.0 pence per share (2002: 5.0p).

The technical development of innovative high-performance products, which forms
an important element of our medium-term strategy, continues to make encouraging
progress.  This, combined with the prospects in North America and actions being
taken to improve performance elsewhere, gives the Board a positive outlook on
the future.


Enquiries:

Zotefoams plc                                          020 8664 1600
David Stirling, Managing Director
Clifford Hurst, Finance Director

Financial Dynamics                                     020 7831 3113
Ben Atwell / Charlie Armitstead



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