AGM Statement

Severfield-Rowen PLC
14 June 2002



Embargoed until 7.00am, Friday 14 June 2002





                              SEVERFIELD-ROWEN PLC

                            Chairman's AGM Statement

At today's AGM, to be held at 12.00 noon, Peter Levine, Chairman of
Severfield-Rowen Plc, the Structural Steel Group, will say:

'Trading at the beginning of the year has been broadly consistent with our
expectations and indications are that we remain on course for a significantly
better year in 2002 than in 2001, although at this stage we do not have the full
picture for the year as a whole.

'Integration of our latest acquisitions, Watsons and Tubemaster, is proceeding
as planned and the plate line at Dalton is making a positive contribution.  The
Group's forward order book remains very healthy with potentially significant
contracts extending into 2003.

'Despite the continuing challenging market conditions, our position as the UK
market leader continues to be enhanced.  We have a strong balance sheet and are
therefore in a position to exploit suitable organic and acquisition
opportunities as they may arise.

'Current expectations are that 2002 will be a year of material improvement over
2001 with the prospects of good progress in 2003.'


For further information please contact:


Severfield-Rowen     Peter Levine                                 0113 246 9993
Financial Dynamics   Peter Otero/Richard Mountain                 020 7269 7291



                      This information is provided by RNS
            The company news service from the London Stock Exchange