Chairman's Statement

Fisher (James) & Sons PLC
12 May 2000


           James Fisher 'Well Placed'for Expansion -
                says Chairman  at Company's AGM
                               


David  Cobb,  CBE, executive chairman of shipping group  James
Fisher and Sons Public Limited Company, struck a positive note
at the company's Annual General Meeting in Barrow today.

Mr Cobb told shareholders: 'Our cash position is stronger than
ever.   Our  bankers  have made it clear  they  are  ready  to
support  us  in  our continuing efforts to  grow  the  company
through acquisition or partnership.  We are in a good position
to expand our activities.

'Results  for the first quarter of the current financial  year
were  in  line  with market forecasts.  The tonnage  tax,  for
which  the  shipping  industry fought long  and  hard,  should
become law later this year and be backdated to 1 January 2000.
This is good news for James Fisher.'


Tenders for New Tonnage


Mr  Cobb  told  the meeting that in 1999 James Fisher  vessels
exceeded the company's earlier expectations by carrying almost
9  million  tonnes of refined products.  In the year  2000  he
expects   them  to  carry  over  that  number.   Last   year's
performance  compared with a total of 7.3  million  tonnes  in
1998.

'With  future  growth in mind we are issuing tender  documents
for  the  building of one, possibly two 13,000 dwt tankers  of
the  latest  design  to Far Eastern, mainland  Europe  and  UK
shipyards.   These ships will replace older tonnage  that  are
now chartered in.'

Joint venture with Cammell Laird


Mr  Cobb also disclosed that James Fisher is entering  into  a
'new  and exciting' venture with Cammell Laird.  It has formed
a  jointly owned company, Fisher Offshore Services,  in  which
James  Fisher  will  hold a 51 per cent controlling  interest.
Fisher  Offshore  Services  will acquire  the  diving  support
vessel 'Ocean Cavalier', to be renamed 'Fisher Cavalier',  and
a  container  ship  'Sun Pegasus' which has been  sourced  for
conversion into an offshore/cable ship.

Mr  Cobb  added: 'We expect this company to source and aquire,
design and convert specialised ships, not only for its own use
but for third parties.'


Press Enquiries:

David B Cobb, CBE
Executive Chairman
James Fisher and Sons Public Limited Company
Tel: [phone]


Issued on behalf of James Fisher and Sons Public Limited
Company by Tavistock Communications Limited (contact Keith
Payne, tel: [phone])