Interim Management Statement

Interim Management Statement

Tate & Lyle PLC

Tate & Lyle PLC

Chairman’s Annual General Meeting and Interim Management Statement

This Interim Management Statement covers the period from 1 April 2010 to 30 June 2010 which is the first quarter of the financial year. Following the changes to our business announced on 27 May 2010, we have also published today on our website, www.tateandlyle.com, sales and operating profits under the Group’s new reporting segments as well as the Group’s new key financial performance metrics for the year ended 31 March 2010.

At the Annual General Meeting of Tate & Lyle PLC, to be held in London today, Sir Peter Gershon, Chairman, will make the following statement:

INTERIM MANAGEMENT STATEMENT

OPERATING PERFORMANCE – CONTINUING OPERATIONS

The Group has made a sound start to the financial year.

In our Speciality Food Ingredients division, demand patterns for speciality sweeteners and starches have remained steady. We have also continued to experience solid growth in sucralose sales volumes, and are now seeing the full benefits from the single plant sucralose manufacturing base.

Within Bulk Ingredients, corn sweetener volumes were somewhat above the prior year period, reflecting firm demand for HFCS in Mexico and the benefit of increased European capacity following completion of the expansion in Slovakia. Industrial starch performance in both the Americas and Europe was marginally lower, with weaker margins partially offset by higher volumes. Ethanol margins improved slightly, although markets have remained depressed.

SUGARS - DISCONTINUED OPERATIONS

On 1 July 2010, we announced an agreement for the sale of our EU Sugar Refining operations for cash consideration of £211 million and expect completion by the beginning of September 2010. The book loss on disposal, before costs, is anticipated to be approximately £55 million, subject to exchange rate movements and the timing of completion.

The Sugars division, including the other remaining businesses, principally Molasses and Vietnamese Sugar, which we have announced processes to sell, will be classified as discontinued in the Half Year Results to 30 September 2010. Operating profits from the Sugars division in the first quarter were in line with expectations.

DEBT MANAGEMENT

Net debt of £787 million at 30 June 2010 has reduced from £814 million at 31 March 2010. The impact of exchange translation on reported net debt in the quarter was negligible.

In June 2010, we repaid bank debt of approximately £125 million in order to capture a future cash saving in interest of around £2 million. This repayment resulted in an accounting charge in the quarter of £6 million within net interest expense associated with the unwind of cash flow hedges, which will reverse over the period to maturity in June 2012.

OUTLOOK

In Speciality Food Ingredients, we expect a continuation of the steady demand patterns experienced during the first quarter.

In Bulk Ingredients, we expect the firm demand for corn sweeteners into Mexico to continue alongside the modest decline in US domestic demand, and stable demand in our other food markets. Despite some improvement in demand, industrial starch margins are expected to remain at lower levels, reflecting industry overcapacity, and we continue to see little near term improvement in US ethanol markets.

Overall, we continue to anticipate progress in the current full financial year.

END

A conference call will be held today at 8.00am BST, hosted by Javed Ahmed, Chief Executive and Tim Lodge, Chief Financial Officer. Participants are requested to dial in at least 5 minutes before the commencement of the call. Dial in details are as follows:

Participant dial in number: [phone]
Conference ID: 89160549Conference ID: 89160549
Replay dial in number: [phone]Replay dial in number: [phone]
Replay passcode: 89160549# Replay passcode: 89160549#

A replay of this call will be available from two hours after the end of the live call for 7 days until 28 July 2010.

For more information contact Tate & Lyle PLC:

Chris McLeish, Group VP, Investor and Media Relations
Tel: [phone] or Mobile: [phone] Tel: [phone] or Mobile: [phone]

William Baldwin-Charles, Head of Media Relations
Tel: [phone] or Mobile: [phone] Tel: [phone] or Mobile: [phone]

About Tate & Lyle:

Tate & Lyle is a global provider of ingredients and solutions to the food, beverage and other industries, operating from more than 45 production facilities around the world. Through our large-scale, efficient manufacturing plants, we turn raw materials into distinctive, high quality ingredients for our customers. Our ingredients and solutions add taste, texture, nutrition and increased functionality to products that millions of people around the world use or consume every day.

Tate & Lyle’s range of leading branded food ingredients includes SPLENDA^® Sucralose, PROMITOR™ Dietary Fiber and STA-LITE® Polydextrose. Tate & Lyle also produces branded industrial ingredients including Bio-PDO™, Ethylex® and Sta-Lok® paper starches; and staple ingredients such as high fructose corn syrup, ethanol, citric acid and basic starches. In addition to providing a wide range of ingredients our Innovation and Commercial Development Group supports customers by providing product development, technical advice and proprietary consumer insight studies.

Tate & Lyle is listed on the London Stock Exchange under the symbol TATE.L. American Depositary Receipts trade under TATYY. In the year to 31 March 2010, Tate & Lyle employed 5,666 people in its subsidiaries and joint ventures, and sales totalled £3.6 billion. http://www.tateandlyle.com.

SPLENDA^® is a trademark of McNeil Nutritionals, LLC