AGM Statement

Renold PLC
21 July 2005


RENOLD plc

At today's Annual General Meeting of Renold plc, the chairman Roger Leverton,
made the following statement: -

'The results for 2004/05 were released 6 weeks ago and since then currency
movements and a plateauing of steel prices give some encouragement for an
improvement in performance later in the current year as forward contracts
unwind. These improving trends have to be set against market conditions which
still remain patchy, particularly in mainland Europe. The restructuring of the
core industrial chain business continues apace with completion of the redundancy
programme at Burton by the end of July. Automotive production performance
continued to be disappointing over the first quarter with little respite from
pricing.

As noted in the Annual Report, the Group will report its financial results for
the year ending 31st March 2006 in accordance with IFRS. The conversion process
from UK GAAP to IFRS is proceeding and it is intended to issue a statement
setting out the changes to the 2005 Accounts prior to the issue of the Interim
Results for the half year. As a result of the significant additional workload
arising from this change, the Interim Results for the period to 30th September
2005, which will be reported under IFRS, will be published somewhat later than
normal in the first half of December 2005.'

Enquiries:
Robert Davies, Chief Executive 0161 498 4500
Tony Brown, Finance Director 0161 498 4500






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