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Alumasc Group Plc (ALU)

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Thursday 17 October, 2002

Alumasc Group Plc

AGM Statement

Alumasc Group PLC
17 October 2002

                                   THE ALUMASC GROUP plc


                              "overall, a satisfactory start"

At the AGM this morning in London of Alumasc, the high specification Engineering
and Building Products Group, the Chairman, John McCall, will state:

"Reference was made in the preliminary announcement of results for the year
ended 30 June 2002, on 10 September 2002, to the Group's strong performance
during the final quarter of the year.

I am pleased to report that the first quarter of the new financial year ending
30 June 2003 has continued that trend, despite the mixed and unsettled economic
background to our activities.  This reflects the benefits of actions taken
during the previous year, as well as some lift in activity levels.

Equally, we drew attention in the preliminary announcement to the impact of
surging insurance and pension costs on the current year's results, and warned
that prospects for our brewery container activity were not encouraging.  These
comments remain valid today.

Overall, it has been a satisfactory start to the Group's new financial year".

Notes for Editors:

In its preliminary announcement on 10 September 2002, Alumasc reported a
turnover of £117.6 m (2001: £109.0 m), a pre-tax profit of £7.5 m (2001: £4.1 m)
and earnings per share of 14.9p (2001: 8.3p).  Maintained dividends per share of
8.5p were proposed.

At last night's closing mid-market share price of  1271/2p xd, Alumasc had a
market capitalisation of £44.4 m.


 The Alumasc Group plc                                             01536-383 844
 John McCall (Chairman)
 Paul Hooper (Group Managing Director)

 Bankside Consultants Limited
 Charles Ponsonby                                                  020-7444 4166

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