AGM Statement

Rotork PLC
24 May 2001

Embargoed until 12.00pm

24 May 2001



                                AGM STATEMENT



The new IQ actuator is now in full production and its reception in the market
has been very positive.  The IQ forms the core of Rotork's product range and
its introduction was a major exercise that temporarily constrained our ability
to meet higher demand levels in the first part of the year. Order intake in
the first 4 months of the current year has been ahead of our targets and well
ahead of the same period last year.  The combination of these factors has
contributed to the order book at the end of April being approximately 25% up
on the year-end.



The positive business climate spans most of the geographic markets we cover.
The main exception is the UK where there has been a reduction in the number
and size of water projects, while the implications of AMP3 are being digested.
The North American markets have been particularly strong.  These improved
business levels have also extended to our Gears, Fluid System and Control and
Safety businesses.



Production levels have increased in recent weeks and it is anticipated that
deliveries will continue to improve over the next few weeks.  There is
however, likely to be a bias in shipping towards the second half of the year.
The new IQ has met its technical and cost objectives.  The success of the new
overseas sources of supply has encouraged us to embark upon new procurement
initiatives.



It is, as always, difficult to determine future project business levels, but
the three end user markets we serve, oil and gas, power generation and water
and wastewater have certain attractions in the current worldwide economic
environment.



Bill Whiteley

Chief Executive