AGM Statement

Caldwell Investments PLC
30 May 2003

                         STATEMENT MADE BY THE CHAIRMAN

                          CALDWELL INVESTMENTS P.L.C.

                             ANNUAL GENERAL MEETING

                              FRIDAY 30TH MAY 2003



Trading for the first four months of the current financial year has been
satisfactory. The positive progress to the Company continues and subject to
reasonable weather, and no unforeseen circumstances, Caldwell hopes to announce
a pre-tax profit for the first half of the current financial year.


The NinaSun canopy is reaching the final stages of it's development and
arrangements for the commencement of commercial trials in July have been
confirmed.





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