12 May 2003

                                    TDG plc                                    

                                 AGM STATEMENT                                 

At today's AGM, Charles Mackay, Chairman, commented:

"I was pleased to be able to report at the announcement of our preliminary
results for 2002 that the actions we have taken to transform TDG into a focused
European Contract Logistics business are delivering encouraging results.
Turnover was up 7% to �567m and although headline profit before tax was down 4%
at �22.6m, headline profit in the second half of 2002 was 6% higher than in the
comparable period of the previous year.

Overall, this was a creditable performance given the difficult trading
conditions in both the UK and Continental Europe and a �2m increase in annual
insurance costs. We were particularly pleased with the growth in headline
profit in the second half, which demonstrates the underlying improvement in the
Group.

Trading in the four months to the end of April has been in line with our
expectations.

As we indicated at the time of the preliminary results announcement, many of
our customers are maintaining a cautious outlook with a consequential delay in
decision making on investment and outsourcing which is likely to be reflected
in the value of new business won during the year.

Nevertheless, we still expect to continue to benefit from the actions we have
taken to strengthen the Group both strategically and operationally. Our
expectations for 2003 therefore remain unchanged, and barring any further
deterioration in market conditions we expect to show modest improvement in
headline profit in 2003.

The strategic review of our French business is continuing as planned, and we
will provide an update with the interim results towards the end of July."

Enquiries:                                                                     
                                                                               
TDG                                             Financial Dynamics             
                                                                               
David Garman, Chief Executive                   Ben Foster                     
                                                                               
Paul Mainwaring, Finance Director               Tel: 020 7831 3113             
                                                                               
Tel: 020 7222 7411                                                             




END