AGM Statement

Seascope Shipping Holdings PLC
25 July 2002


For immediate release                                25 July 2002




                         Seascope Shipping Holdings PLC

                        AGM Statement and Board Changes




At the AGM of the Company held at 12 noon today, Sir Peter Cazalet, Chairman of
Seascope Shipping Holdings PLC, made the following statement:

' We are delighted to welcome John Denholm to our Board as a non-executive
director. John is Chairman of J&J Denholm, a leading British shipping services
group and of Anglo Eastern Management Group Limited.

With a lot of hard work the integration of the Group has gone well and all the
broking businesses have now been on one site for six months. I would like to
thank all the members of staff who have worked so hard over the last eighteen
months to bring the Group to where it is today. On a personal note I feel it is
an appropriate time to be handing over the Chairmanship to Sir Graham Hearne who
until recently has been Chairman of Enterprise Oil and who has kindly agreed to
be my successor as Chairman and I will be standing down as Chairman and from the
Board after announcing the interim results in November. I am convinced we have
now built a significant force in the shipbroking world and I look forward to the
Group's increasing prosperity.'


Alan Marsh, Chief Executive Officer of Seascope, gave the following trading
update:

'We said in May that trading in the first two months of the financial year was
marginally above internal expectations. Our Sale and Purchase department has
performed particularly well and Offshore has performed satisfactorily in
difficult markets, such that with four months of the financial year now
concluded the group as a whole continues to trade slightly better than expected.
I believe therefore that our interim results will allow the Board to maintain
the interim dividend at last year's level of 5p per share.




                                    - ends -


For further information, contact:

Seascope Shipping Holdings PLC
Alan Marsh, Chief Executive                      Tel: [phone]
Derek Walter, Financial Director                 Tel: [phone]

Grandfield
Nick Boakes                                      Tel: [phone]
Victoria Morris                                  Tel: [phone]





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