AGM Statement

Symphony Plastic Technologies PLC
5 July 2002


For Immediate Release                                              5th July 2002


                           Symphony Plastic Technologies plc


                                      AGM Statement



Symphony Plastic Technologies plc ('Symphony' or 'the Group'), the degradable
plastics company, is pleased to announce that at its Annual General Meeting ('
AGM') held today, all resolutions were duly passed.



At the AGM Christopher Littmoden, Chairman of Symphony, made the following
statement:



'Since the beginning of the current financial year Symphony has continued to
make progress on a number of fronts.  As announced yesterday, we have
strengthened our distribution arrangements in the Caribbean through the
establishment of Symphony Environmental Caribbean Incorporated, a company set up
to market SPI-Tek products in Barbados, which has also been awarded a
significant contract to supply degradable plastic products to one of the
Caribbean's largest supermarket chains.



Following the delays associated with the testing of the degradable banana tree
bags with Fyffes due to poor weather conditions last year, Symphony is pleased
to announce that Fyffes is due to commence large scale testing of Symphony's
products imminently. Local licensing arrangements for the production of the tree
bags are at an advanced stage and are expected to be completed shortly.



In the UK, SPI-Tek products are now being bought by 50 Local Authorities, which
represents an increase of 30 from last year, and interest continues to grow as
the Department of the Environment Food and Rural Affairs awarded an initial £42m
of funding which will be released to Local Authorities for various new recycling
schemes.  In addition, we announced earlier today Symphony's first major UK
supermarket contract for carrier bags with the Co-operative Retail..



Since our flotation in December last year, the Board has been pleased with the
progress made so far and we remain confident of the prospects of the Group for
the foreseeable future.'



For more information, please contact:


Christopher Littmoden                                  Tel: [phone]
Chairman, Symphony


Bobby Morse/Louise Bolton                              Tel: [phone]
Buchanan Communications                                Or 07802 875 227





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