AGM Statement

Molins PLC
21 April 2004





21 April 2004                                             FOR IMMEDIATE RELEASE


                                   MOLINS PLC
                             Annual General Meeting

At today's AGM, Peter Byrom, Chairman of Molins said:


'Prospects for this year within the Tobacco Machinery division have deteriorated
significantly over the last two months.  Some existing orders have been
cancelled.  Furthermore there have been no significant orders for new machinery
from the North American customers who have been principal buyers of new machines
over the last two years.  It is unlikely that this situation will improve in the
short term.  The prospects for further growth among the newer, independent
tobacco companies in North America are at present unclear.



'Inventory levels reflect our previous expectations of growth from this sector
and we now have manufacturing and assembly capacity in excess of short term
requirements.   We are restructuring the business to match the new expectations
of activity and maximise the performance of the division.



'Sales of rebuilt machinery are expected to be ahead of last year but with some
margin erosion, and sales of spares are being maintained.  Order intake at Sasib
in the first quarter of this year has been encouraging.  The relocation of Sasib
into a new factory will inevitably cause some disruption during the year but the
company will gain operational benefits for the longer term.



'The Packaging Machinery division has continued its order intake at good levels,
with improved demand in North America.



'As indicated at the time of the preliminary results the weakness of the US
dollar and the decrease in rental income will impact results for 2004.



'With three months of the year gone, our present expectation is that ongoing
underlying earnings per share, before restructuring costs, will be approximately
half of those for last year and will be heavily weighted towards the second
half.'



Enquiries:          Molins PLC                             Tel: [phone]
                    Peter Byrom, Chairman
                    David Cowen, Group Finance Director



Issued by:         Citigate Dewe Rogerson                  Tel: [phone]
                   Margaret George


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