RNS Number:8084J
Urbium PLC
09 April 2003


Embargoed until 1100                                              9 April 2003



                                   Urbium PLC
                                        
                          ("Urbium" or "the Company")
                                        
                                        
                            Chairman's AGM Statement
                                        

The very substantial progress achieved in 2002 places Urbium in a strong
position to achieve its strategic objective of creating a business of quality
and size by building on its two prime business assets, the Tiger Tiger brand and
its special position in London's West End, Europe's largest bar and nightclub
market.


The Tiger Tigers at Croydon, Glasgow and Newcastle opened in 2003 are trading
well and the original Tiger Tiger in London's Haymarket is delivering sales
ahead of last year following its recent partial refurbishment.


The first City of London operation, Digress at CityPoint, which opened in
November 2002 is trading ahead of our expectations. This contemporary and
stylish bar and restaurant concept is new to the City and is being very well
received. We believe that there is significant further growth potential for
Urbium in this market.


In the Preliminary Announcement at the end of February 2003 we indicated that we
expected market conditions for the year to be increasingly difficult. Events
over the first three months, traditionally our quietest trading period, have
confirmed our view. London appears to have been worst affected by the general
economic uncertainty and more specifically by the continued downturn in London's
financial community, the extended closure of the Central Line and the impact on
consumer sentiment of the War in Iraq. These factors have all contributed to a
general reduction in bar and restaurant demand in the capital.


By contrast, the Tiger Tiger operations, mainly located outside of London, have
continued to trade strongly overall with sales ahead of the previous year.


We continue to deliberately conserve our development investment resources until
values adequately reflect the downturn in our sector and the general uncertainty
in the economy. Consequently, debt levels in 2003 will be significantly reduced.


Urbium, with its strong brands and management team is well positioned for the
future and despite the current economic and political uncertainties, the Board
continues to be confident about the long term prospects for the company.


                                    - Ends -


Enquiries:

Urbium PLC                                                       020 7434 0030
John Conlan, Chairman
Robert Cohen, Managing Director
Steven Palmer, Finance Director

Weber Shandwick Square Mile                                      020 7067 0700
Kevin Smith/Becky Haywood








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