RNS Number:8853L
Peterhouse Group PLC
04 June 2003


For Immediate Release                                              4 June 2003



                               PETERHOUSE GROUP PLC

                                  AGM STATEMENT

At the Annual General Meeting of the Peterhouse Group Plc, a leading provider of
infrastructure services principally to the telecommunications, power and rail
industries, to be held at 12 noon today the Chairman, David Jackson, will make
the following statement:

"This is an exciting time for Peterhouse with the fundamentals of our strategy
now falling into place.  Following the acquisition of First Engineering and the
disposal of our Construction and Development arm last year, we have now
positioned Peterhouse as a focused Support Services group operating
predominantly in the Rail, Power and Telecommunications sectors.

"I am delighted to announce today that we have received written confirmation
from Network Rail of a solus negotiation of an extension to our maintenance
contracts in Scotland for a further two year period under the New Maintenance
Programme.

"This is recognition by our client of our commitment to the rail industry and
justification of our investment decision last year.  The contract extension is
anticipated to be worth circa. #200 million over its term and will give us the
opportunity to further improve our performance and internal efficiencies to put
us in a favourable position for re-tender in 2006.

"The recruitment of Janette Anderson is a huge boost to our rail related
activities and I am personally delighted that she has chosen Peterhouse Group to
further her career.

"The extension to our Rail maintenance contracts in Scotland, coupled with the
recent award of the Power Supply Upgrade contract for the Sussex region of
Network Rail, will significantly enhance the forward visibility of our order
book.

"We await the outcome of the award for the National Track Renewals contracts
which would run for an initial term of five years with an extension option for a
further five years.

"Current trading is in line with management expectations, notwithstanding a
larger than anticipated increase in insurance premiums at the recent renewal.

"The separation of our rail-related activities into First Infrastructure and
First Projects continues as planned and both businesses are performing well
under the new management structure.

"Within Eve Transcom, trading remains strong with our Transmission business
ahead of expectations and Telecommunications in line with our forecasts that
were revised following the reduction in capital expenditure announced by Orange
earlier in the year.  Both Transmission and Telecommunications await decisions
by their clients that could considerably increase outputs over the next few
years.

"Eve Trakway continues to perform below expectations, but I am pleased with
recent trading results which show an improvement both in the UK and in Europe.

"Our Civil Engineering business continues to improve and I am pleased to be able
to confirm that a positive contribution is anticipated for this trading year.

"Our Health, Safety and Environmental division should benefit from recent
management changes.  I am anticipating an improved performance from this
division.

"Overall, I am content with our trading performance and our prospects.  The
renegotiation of the Scottish maintenance contracts in our Rail Infrastructure
division gives us the solid base that we need to go forward and I remain
optimistic for our future."



For further information, please contact:


Peterhouse Group plc                                          01422 374757
David Jackson, Executive Chairman
Alan Robertson, Chief Executive
John O'Kane, Group Finance Director

Buchanan Communications                                       020 7466 5000
Tim Anderson / Isabel Petre / James Strong




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