AGM Statement

Camellia PLC
27 May 2004


                                  Camellia Plc
                          Chairman's statement at AGM

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

It is too early to make any pronouncements concerning the unexpected change of
government in India, but we would hope there will not be any major impact on our
operations. Our policy continues to be to make as high a quality of tea as
possible, and whilst we are still awaiting the period of high production, the
prospects appear reasonable, as indeed they do for Bangladesh. The improved
political situation between India and Pakistan could, if maintained, have some
impact on tea exported to Pakistan from both Bangladesh and Kenya.

Tea production in our African operations has been reasonable and prices are up
to or even slightly ahead of budgeted figures in US dollar terms. However, the
South African Rand remains very strong and this is continuing to have an adverse
effect on our South African operations. We have now totally ceased our coffee
growing operations in Kenya and Malawi and discussions with potential partners
are at an advanced stage concerning the redeployment of the coffee land in Kenya
to alternative crops.

The Australian dollar has recently weakened against the US dollar and this
should make exports to the US for our citrus products slightly more competitive.
Australia does, however, continue to experience hot and dry weather conditions,
which could have a significant effect on production.

Prospects for the Malawi macadamia harvest in 2004 appear to be reasonably
positive with good production and beneficial prices. However, the dry weather in
South Africa will have a detrimental effect on production.

Brazil is experiencing another good year benefitting from the current high price
of soya.

Associated Cold Stores & Transport are still experiencing a highly competitive
market. Their results are disappointing, but further cost reduction measures are
being put in place. Our engineering companies are reporting greater activity in
the market place, but this has yet to show through in increased turnover and
profitability.

Siegfried are not immune from the present over capacity in the active
pharmaceutical ingredients market but are doing everything within their power to
fill their own capacity and reduce costs where appropriate. The generics part of
the business continues to perform well.

Duncan Lawrie continue to trade well in the first part of this year helped by
slightly higher lending rates, and increased activity in the investment market.

As usual it is impossible to anticipate with any certainty the likely results
for the first half of this year due to fluctuating commodity prices and
currencies.

For further enquiries please contact Camellia Plc
Malcolm Perkins
Tel: [phone]



                      This information is provided by RNS
            The company news service from the London Stock Exchange