AGM Statement

Castings PLC
17 August 2004


At the Annual General Meeting of Castings plc today,Chairman Brian Cooke will
issue the following update on trading:

All Group companies are working at high levels of production and sales including
many new contracts. However we have seen rapid rises in raw material prices in
July and again in August. The commodity market is very volatile and there is a
variable time delay before we can recover the increases from our customers.

We are unable to forecast the full effect of raw material price increases, but
coupled with the 30% increases in electricity charges from 1st October 2004 we
expect an adverse effect on results for the full year.

In conclusion I have not seen such rapid increases in costs over 40 odd years in
the industry. This is something new and outside our control.

B.J.COOKE




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