AGM Statement

Glanbia PLC
22 May 2002

                          AGM REMARKS BY JOHN MOLONEY,

                      GROUP MANAGING DIRECTOR, GLANBIA PLC



Speaking at the Annual General Meeting of Glanbia plc today, Mr John Moloney,
Group Managing Director, said:

'Glanbia is continuing to make progress to-date in 2002.

'The USA business continues to perform well and we expect satisfactory
performances from Consumer Foods and Agribusiness. We have made progress in
addressing loss-making activities including the recent proposal to cease
operations at our UK cooked meats operation. The Group is actively investing in
our strategy for growth and we continue to tighten our business focus.


'However, international dairy commodity markets continue to be very difficult
and no recovery is envisaged for at least several months.

'Overall, as matters currently stand, Glanbia expects to achieve a satisfactory
full year trading performance.



ENDS

22 May 2002

Enquiries to:

Michael Patten, Group Director of Communications, Glanbia plc

Tel: [phone] (office) or 087-2414502 (mobile)

[e-mail]



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