AGM Statement

Avon Rubber PLC
23 January 2003



For Immediate Release                       23 January 2003


                   Avon Rubber p.l.c.

              Chairman's Statement for AGM

During  the  first quarter, results were in line  with  our
expectations.    Improved   efficiencies   contributed   to
operating  profits  which were better than  the  equivalent
period  in  the previous year in all divisions even  though
costs for insurance and UK pensions were sharply higher.

Sales  were  similar to those in the first quarter  of  the
previous year except in North American Automotive  where  a
successful programme to meet an urgent customer requirement
led  to a boost in sales during October and November.  This
more  than  offset the translation impact of the weaker  US
dollar.

We  expect  net borrowings to increase slightly during  the
first half and then fall during the second half for a  year
on  year reduction.  Cashflow during the first half will be
affected   by  timing  of  capital  expenditure,   payments
relating  to exceptional items incurred last year,  sharply
higher  insurance  premia  and working  capital  needed  to
support specific sales opportunities.

We  expect  all our markets to remain challenging  with  an
uncertain outlook for automotive sales in Europe and  North
America.   However, we anticipate higher sales in Technical
Products,  particularly of defence  products,  with  steady
progress  in other product areas.  Operational improvements
which have already been made will enable us to show further
progress during a period of softer volumes in some  markets
and provide capacity for increased sales later in the year.

                        - Ends -


For further enquiries, please contact:

Weber Shandwick Square Mile
Richard Hews and Rachel Taylor               020 7067 0700

Avon Rubber p.l.c
Jayne  Hunt, Group Communications Executive   01225 861169




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