AGM Statement

Camellia PLC
30 May 2002

At the Annual General Meeting of Camellia Plc to be held at 2.30 p.m. today the
Chairman, Mr. M.C. Perkins, will make the following remarks on current trading
and prospects.

                                Camellia Plc AGM

                              Chairman's statement


I should like to take this opportunity to bring shareholders up to date with
developments in the current year.


Climatic conditions have not been favourable thus far and as mentioned in my
statement there are indications that we may be moving into an El Nino cycle,
although predications are that this cycle may be more benign than that
encountered in 1998.


Both India and Bangladesh experienced a wet and cool start to the year, although
recently it has been very hot indeed. Tea production in both countries presently
shows an increase on the previous year, but it is still early in the season and
the eventual outcome cannot be predicted. There must be some considerable
concern surrounding the political situation both in India and Nepal. Of
particular concern in India is the potential for escalating problems on the
border with Pakistan, and the knock-on effect such problems could cause in India
and elsewhere.


Dry conditions have prevailed in Kenya and South Africa and tea production in
both those countries is below that of the previous year. Tea prices have also
been disappointing in the first few months of the year. In Kenya our coffee crop
is expected to be below last year and current coffee prices are equivalent to
our cost of production.


Australia is also experiencing dry conditions and although volume will be high
the fruit size is smaller than last year leading to lower prices. In South
Africa the table grape crop was hit by wet conditions which has caused
unavoidable fungal diseases. Other horticultural operations are progressing in
accordance with our expectations.


In the UK our engineering businesses started the year slowly although there has
been some evidence of an increase in order intake over the last month. The cold
storage and food distribution operations are suffering from increased
competition and a higher cost base, particularly with regard to insurance
premiums.


Sales growth at Siegfried for the first three months of the year has been good
and the prospects for the remainder of the year are encouraging.


In common with other financial institutions Duncan Lawrie are suffering from the
effect of low interest rates, coupled with a lack of investment management
business.


As usual climatic conditions and commodity prices are unpredictable and make it
impossible to estimate with any certainty the likely results for the first half
of the year.


M C Perkins

Chairman











P.E. Hill

Company Secretary

30th May 2002







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