Chairman's AGM Statement

REECE PLC
19 July 1999


AGM STATEMENT

At  the Company's AGM held today, the Chairman commented  that
the  difficult  trading conditions experienced in  the  second
half  of  last year have continued in the first half  of  this
year.   All  divisions have been affected.  As a  consequence,
the  results  for the first half of 1999 will  be  worse  than
those reported in the first half of 1998.

Following  the  AGM  we propose to invite a representative  of
Britannia  Group PLC, who own just under 30% of the  Company's
issued  ordinary share capital, to join the  Board  as  a  non
executive director.