RNS Number:3354F
Eleco PLC
17 November 2004


17 November 2004


Enquiries to:
John Ketteley, Executive Chairman                Tel: 01920 443 830
Eleco plc                                        mail@eleco.com

David Dannhauser, Finance Director               Tel: 01920 443 830
Eleco plc                                        mail@eleco.com

Tarquin Edwards                                  Tel: 020 7929 5599
Holborn



                                   ELECO PLC
                   The Building Systems and Technology Group

                                 AGM STATEMENT


At Eleco plc's Annual General Meeting held today (17 November 2004), Executive
Chairman John Ketteley made the following statement.

Principally due to the slower start at Bell & Webster Concrete I anticipate that
our overall results for the first half of the current year will be lower than
for the same period last year.  However, subject to market conditions not
deteriorating significantly, the circumstances exist for recovery in the second
half, given the removal of the operational constraints on Bell & Webster
Concrete, an acceleration in the contribution from our newly acquired Software
businesses plus a continuing robust contribution from our Building Products
businesses.

Having successfully completed Phase 2 of the major Lancaster University Student
Accommodation project, I reported in my Chairman's Statement that Bell & Webster
Concrete, our Structural Precast concrete business, started the year slowly due
to a delayed Phase 3 of the project.   I indicated that the timing of the
recovery in our precast business would depend on the date on which our works on
Phase 3 began.  I have to report that the overall project has experienced
further delays while main contracts issues were resolved and we now anticipate
making a start on production of our element of the works in the second
half-year.  Nevertheless, and despite this temporary setback, orders and
prospects remain positive for our precast business.

Eleco Building Products, which comprises our UK Timber Engineering and our
Roofing and Cladding operations, continues to perform well.   Our German and
South African timber engineering businesses also continue to perform well in
their markets.

Our software businesses are maintaining the progress I reported on in October
and we have recently received a favourable preliminary ruling in respect of
certain distribution rights which have been the subject of a protracted dispute.


                                    - Ends -


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