Trading Statement

Renold PLC
24 February 2004


Trading Statement

Following more difficult than expected trading in December and January
compounded by the rapid fall of the US dollar, Renold plc announces that its
underlying second half performance is likely to be similar to last year
resulting in a pre-exceptional full year result lower than 2003, rather than the
expected improvement as detailed in the half year statement.

Market conditions in Europe have weakened, particularly with distributors who
support maintenance and repair business, and whilst there has been some
improvement in US OEM markets, the recent substantial fall in the US dollar has
adversely impacted margins.

The Automotive Systems business continues to make progress in improving
production efficiencies but margins here have also been affected by the adverse
US dollar/Euro exchange rate movement.

Management continues to control costs tightly and maximise new product sales and
new business opportunities. As a result, forward orders for the core business in
local currency terms have shown a strengthening over recent months.

Renold plc will announce its full year results for the year ending 3rd April
2004 in June 2004.



Contacts: Ian Trotter - Chief Executive Tel: [phone]
Steve Mole - Group Finance Director Tel: [phone]




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