Trading Statement

Renishaw PLC
18 October 2002

Chairman's statement to be made at the annual general meeting to be held at 12
noon today:

Due to the world economic downturn, demand for the Group's products has
continued to be subdued.  Whilst there are encouraging signs in some of our
markets and product sectors, turnover at constant exchange rates for the first
three months of the current year has been similar to that of the first quarter
of last year.  The Group continues with its research and development
programmes and investment in developing its worldwide markets.

Your Board believes that the Group will benefit from recovery in the world
economy as soon as this takes place, and remains confident of Renishaw's
progress in the longer term.

Sir David McMurtry
Chairman and Chief Executive

Registered office. New Mills, Wotton-under-Edge, Gloucestershire, GL12 8JR
Telephone. [phone]





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