AGM Statement

Caffyns PLC
23 July 2003


FOR IMMEDIATE RELEASE.

CAFFYNS PLC

CHAIRMANS'S AGM STATEMENT

At the 94th Annual General Meeting of the company held today, the Chairman, Mr
Brian Carte, commented as follows;

In my first Chairman's Statement I was delighted to record that the results for
the financial year ended 31 March 2003 were a record and I congratulate all
members of staff who made this possible. May I refer you to my Statement in the
Annual Report where I paid tribute to my predecessor, Alan Caffyn. Alan has been
involved in the Company since the mid 1950's and a Director for the past 40
years. The current success of the Company is due in large part to his
commitment, strong management and direction.

In line with others, April and May trading began slowly due to the impact of
personal taxation increases however demand from June on has picked up
considerably. Last year's successful trading together with the proceeds of
disposals has put us in a strong position both financially and operationally to
build on our relationships with our leading manufacturer partners. Earlier this
month, we announced the purchase of an Audi dealership in the Eastbourne
territory. This dealership will relocate from Hailsham to Eastbourne next year
on completion of a new development on a recently acquired site.


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