AGM Statement

Grafton Group PLC
2 May 2001


                              GRAFTON GROUP PLC

                                AGM STATEMENT

                                  2 MAY 2001


The Group's performance in the first quarter has been positive, with turnover
in both Ireland and the UK in line with expectations, and ahead of last year.
Our broadly based businesses are providing further growth opportunities for
profitable development in both the UK and Ireland.


With Ireland's economy continuing to grow strongly in 2001 at somewhat lower
levels than before, the Group is well placed to build on its leading market
positions in pursuing profitable growth. Two new Woodie's stores will be
opened, one in Tralee in the Autumn of 2001 and one in Newbridge in the Spring
of 2002.


Our UK businesses, now accounting for almost half the Group's profit will be a
major source of growth in the future, as the merchanting market consolidates,
and acquisition integration benefits come through. Since the year-end, the
acquisition by Buildbase of two further trading locations, and the opening of
a further greenfield Plumbase branch, add to the Group's growing network. The
two recently opened EuroMix plants near Manchester and Birmingham are
performing well.


The Group will continue to pursue its successful strategy of building on its
core businesses organically and by acquisition to generate profitable growth.

Ends                                                   2 May, 2001


For reference:
Michael Chadwick                                                     Joe Murray

Executive Chairman                                           Murray Consultants

Grafton Group plc                              Telephone: (++353) [phone]

Telephone: (++353) [phone]
                                                                 Ginny Pulbrook

                                                         Citigate Dewe Rogerson

                                              Telephone: (++44) [phone]



     This statement is also available on our web site www.graftonplc.com