Chairman's Statement

Avon Rubber PLC 17 January 2001 CHAIRMAN'S STATEMENT FOR ANNUAL GENERAL MEETING 17TH JANUARY 2001 At the time of our preliminary announcement on November 30th 2000 we stated that 'our international markets continue to be demanding, but we believe that the overall outlook for Avon is improving.' The Group's results for the first quarter of the financial year are in line with last year although significant cuts to US vehicle output have affected our own production levels in North America during December and January. Short term vehicle production levels are uncertain, but current information suggests some recovery as stocks of unsold vehicles reduce. Sales from our Continental European units have increased while trading conditions for UK operations remain challenging. The benefits of lower costs from recent restructuring throughout the Group will help to offset the impact of reduced sales to US automotive customers. We continue to believe that the actions which we have taken will produce benefits for shareholders. Enquiries to: Avon Rubber p.l.c. Bill Taylor, Business Services Director Tel: 01225 861180 Golin/Harris Ludgate Richard Hews Tel: 0207 253 2252 Trish Featherstone
UK 100

Latest directors dealings