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Kuju PLC (KUJ)


Thursday 31 July, 2003

Kuju PLC

AGM Statement

Kuju PLC
31 July 2003

                              Kuju ("the company")

At the annual general meeting of the Company held at 4.00 pm on 30 July 2003,
the Company announces that all the proposed resolutions were duly passed.

In particular, the special resolution to subdivide each ordinary share of 60
pence each in the capital of the Company into one ordinary share of 5 pence and
one deferred share of 55 pence ("the Deferred Shares") was passed.

The rights and privileges attached to the Deferred Shares are as follows:

as regards income:

the Deferred Shares shall not entitle their holders to receive any dividend or
other distribution;

as regards capital:

the Deferred Shares shall on a return of assets in a winding up or otherwise
entitle the holder only to the repayment of the amounts paid up on such shares
after repayment of £10 million per Ordinary Share;

as regards voting:

the holders of the Deferred Shares shall not have the right to receive notice of
any general meeting of the Company nor the right to attend, speak or vote at any
such general meeting;

as regards reduction of capital or cancellation:

neither the passing by the Company of any special resolution for the
cancellation of the Deferred Shares for no consideration by means of a reduction
of capital requiring the confirmation of the High Court of an order confirming
any such reduction of capital nor the making effective of such an order shall
constitute a modification or abrogation of the rights or privileges attaching to
the Deferred Shares and accordingly the Deferred Shares may at any time be
cancelled for no consideration by means of a reduction of capital effected in
accordance with the Companies Act 1985 without any such sanction on the part of
the holders of the Deferred Shares as is required by Article 15;

as regards certificates:

notwithstanding any other provisions of these Articles, and unless specifically
required by the Companies Act 1985, the Company shall not be required to issue
any certificates in respect of the Deferred Shares; and

as regards further issues:

the special rights conferred by the Deferred Shares shall not be deemed to be
modified or abrogated by the creation or issue of further shares ranking pari
passu with or in priority to the Deferred Shares

31 July 2003

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