RNS Number:5526N
SSL International PLC
15 July 2003



EMBARGOED UNTIL 1030 HRS ON 15 JULY 2003



                                                                    15 July 2003

                             SSL INTERNATIONAL PLC

                                 AGM STATEMENT

At the Annual General Meeting today, Ian Martin, Chairman, made the following
statement to shareholders:

"I am pleased to report that, in the year that ended on 31st March, we made
strong progress in restoring your company to full financial health. In
particular our sales have recovered, our operating profit after charging
exceptional items of #61 million is almost three times higher than the previous
year and sales of our key branded products have advanced. I am also pleased to
report your company has a much firmer financial footing than at any time since
the group was formed in 1998. The dividend for the year has been maintained.

All this was achieved in the face of tough markets, particularly in the United
States and continental Europe.

You may have seen reports in the newspapers about your company being the subject
of an offer to buy the group, by a third party. We announced yesterday that the
board is in preliminary discussions which may or may not lead to an offer for
the group. I am afraid that the rules prevent me giving further details at this
stage although if there is more to report I will do my best to ensure all
shareholders have access to the information at the same time. As always the
interests of shareholders are at the front of our minds. In all other respects
it is business as usual for the management team - the last thing you would want
is for us to be distracted from running the business.

An important discipline of managing any business is to review regularly the
brands, products and resources - in terms of skilled staff and financial
resources - in order to make sure you are exploiting your strengths to greatest
effect. As a result of a thorough review your board decided that the best way
forward is to focus all our efforts on exploiting the exceptional brands and
capabilities we have in the consumer healthcare side of SSL and to divest our
medical business. Our new strategy is simple: build on brands and grow sales,
develop new products and cut costs to meet and beat industry benchmarks.

Our disposal programme is well advanced and on course. The cash we get from
these sales will be used to reduce the group's borrowings, which will, in turn,
give us flexibility to grow the consumer side of the business.

Destocking in Italian pharmacies has continued and we have experienced some
slowdown in the first quarter in the Far East due to the SARS epidemic.
Notwithstanding these challenging trading conditions, the year has begun
satisfactorily and overall group profits to date are in line with our
expectations.

Be assured that your Board recognises that whilst we have made a good start and
have the building blocks in place there is still a long way to go in building
shareholder value."

For further information:

SSL International plc                                    020 7367 5760

Ian Martin, Chairman

Brian Buchan, Chief Executive

The Maitland Consultancy                                 020 7379 5151

William Clutterbuck

Brian Hudspith


                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
AGMSFDSUISDSEFW