Chairman's AGM Statement

SUTTON HARBOUR HOLDINGS PLC
25 August 1999





The Annual General Meeting of Sutton Harbour Holdings was held today,
Wednesday 25th August 1999.

Shareholders approved the Report & Accounts which showed turnover at a record 
high of over £4 million with operating profits exceeding £1 million for the
first time. The Board's recommended dividend of 2.4p per share was approved by
shareholders.  The dividend will be paid on 1st October 1999 to holders of
ordinary shares registered at the close of business on 17th September 1999.  
Chairman, Ellen Winser, said that among the factors contributing to this
success were the highest ever level of fish landings at Plymouth Fisheries. 
The company also enjoyed its highest ever rental income while performance at
the company's Marine Leisure businesses centred around the Marina was also
buoyant.  

Discussing current trading, Chairman, Ellen Winser said: 'We have had a good
start to the year with fishing holding up and excellent fuel sales.  The good
weather has meant a good start for our marine leisure businesses and rentals
are generally holding firm.  The marina is full;  we have increased the number
of visitors berths and have laid other pontoons elsewhere in the harbour.  We
have had an excellent start and, of course, the Eclipse was a bonus.  The
challenge will be to continue the success next year.  In our first three
months of this year, unaudited operating profits are 11% up on last year. 
Clearly this is good but should not be taken as a projection for the full
year.'

A unique electronic auction system, based on a countdown clock, is scheduled
to come in to operation at Plymouth Fisheries within the next few weeks.  This
will serve to obtain higher prices for fishermen and allow the possibility of
buyers at remote sites buying direct from Plymouth.  The system is tried and
tested on the Continent but will be the first such installation in the UK
based fish industry.

Shareholders also approved a significant change to the historic voting
structure.  This dates back nearly 150 years and was heavily weighted towards
small shareholders.  To bring the company in line with modern business
practice, shareholders will now have one vote per share held.

'The company intends to build on its excellent record of achievement in Sutton
Harbour by continuing to maximise the development potential of land in the
immediate vicinity and to further expand trading activities in related fields.
Current negotiations with a public authority should be ratified by October and
will enable Sutton Harbour Holdings to acquire and develop further excellent
waterfront sites and repeat the success of the last six years.'  



Ellen Winser
Chairman
25th August 1999