AGM Statement

23rd May 2007 - John Wood Group PLC ("Wood Group") Chairman's Annual General Meeting (AGM) Statement "2007 Results now expected to be ahead of expectations" At Wood Group's AGM later today, the Chairman, Sir Ian Wood, will make the following comments: "Following the delivery of record results in 2006, our performance year to date is encouraging. Within our markets, oil & gas exploration & production spending continues to increase, particularly in international markets outside North America, and we continue to see an improving power market. "In Engineering & Production Facilities, we began the year with good momentum, particularly in our Engineering activities and expect this to continue throughout the year. Within Engineering, we are active on a wide range of upstream, midstream and downstream projects. In Production Facilities, we are maintaining our market leading position in the North Sea, where we were recently re-awarded a major onshore contract with Shell. We also continue to make good progress in developing our international Production Facilities presence. "Well Support's year to date growth is in line with our expectations. We continue to see a good overall performance from our North American activities, despite relatively flat market conditions in the first quarter. International growth continues to be strong, and our investment programmes to increase capacity for international markets are progressing well. "Gas Turbine Services has made a strong start to the year following a number of equipment and project solutions contract awards. Overall, we continue to see healthy demand in the US and international markets for our gas turbine operations and repair services. This should lead to a strong performance for the year. "We have made an encouraging start to 2007 with notable strength in Engineering and Gas Turbine Services. The Board is confident of delivering strong growth for the year, ahead of previous expectations." ENQUIRIES: Wood Group Nick Gilman / Carolyn Smith 01224 851000 Brunswick Patrick Handley/ Nina Coad 020 7404 5959
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