Preliminary Results - Part 3

Ocean Wilsons Holdings Ld
24 April 2002



PART 3

                         Ocean Wilsons Holdings Limited
                            Preliminary Announcement

                        Consolidated Cashflow Statement
                      for the year ended 31 December 2001

                                              Year to                Year to 31
                                          31 December                  December
                                                 2001                      2000
                                                £'000                     £'000
                                                         
Net cash inflow from operating activities      18,093                    13,798

Dividends from joint ventures                   2,520                       961
Returns on investments & servicing of finance     418                     1,312
Taxation                                       (2,639)                   (2,771)
Capital expenditure and financial investment  (26,107)                  (10,979)
Acquisitions and disposals                     (1,947)                   (5,203)
Equity dividends paid                          (2,184)                   (2,340)

Cash outflow before management of liquid 
resources and financing                       (11,846)                   (5,222)

Management of liquid resources                  3,891                    (1,176)
Financing                                       9,382                     4,961

Increase / (decrease) in cash in period         1,427                    (1,437)


The final dividend of 5.00p per share will be paid on the 14th June 2002, 
if approved by shareholders at the Annual General Meeting to be held on 
14th June 2002, to shareholders on the register at close of business on 
17th May, 2002.

Additional copies of this announcement can be obtained from the Company's 
registered office Clarendon House, Church Street, Hamilton, Bermuda or from the 
Company's UK transfer agent, Independent Registrars Limited, Balfour House, 
390-398 High Road, Ilford , Essex IG1 1NQ.



  



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