AGM Statement

Comeleon PLC 20 February 2002 FOR IMMEDIATE RELEASE 20 FEBRUARY 2002 COMELEON ANNUAL GENERAL MEETING 'It was once a vision - now it is reality' At the Annual General Meeting today of comeleon plc, the imaging technology company, Chairman, Jon Pither, made the following statement: 'The last year has seen remarkable progress and I will deal with some of the achievements briefly in a minute. First I would like to update shareholders on recent trading. 'I am proud to say that comeleon achieved cash breakeven in December 2001, six months ahead of plan and currently has an order intake of £1.3 million in the year to date which is 17% above our expectations. Clearly, there was a Christmas effect, but the results far exceeded our budgets. It is still very early in 2002, and I believe it is too early to confidently predict the outcome for the year, but there is a great air of confidence at comeleon which comes from being successful, so quickly with such a good technology. 'Most of the sales to date have been imaging of mobile phone covers and computer peripherals. comeleon is, as planned, now diversifying out of this large and profitable niche into other areas. Earlier this month we announced our first substantial order as a component supplier to a global consumer goods company. The first phase of that contract, which is worth £125,000, is being shipped over the next few weeks and we confidently expect further batches to follow throughout the year. 'Also earlier this month we won two significant trading agreements. 2002 is the 25th anniversary of Elvis Presley's death and comeleon has secured the sole rights in the US to supply the only provider of Elvis-imaged mobile phone covers as approved by Gracelands. In the UK we have linked up with Euromark, one of the largest distributor of phone covers in the UK. Euromark has the rights to images such as Harry Potter, Lord of the Rings and Manchester United. Together this is an incredibly powerful portfolio of licensed images. 'Progress in the United States has also come quickly. In August 2001 we established our US subsidiary. Success came so soon, with a number of sizeable orders, that we have been satisfying US demand from the UK. This week manufacturing commenced in our North Carolina facility where we can quickly respond to demand. Again, the management team is delighted with how rapidly comeleon's technology and its ability to produce superior products, is being accepted in this vast market. 'Just a quick recap on what has been achieved over the last year at comeleon. As I said in the annual report, comeleon has gone from concept, through flotation on the AIM market of the London Stock Exchange to production in an incredibly short time. We have built the infrastructure of facilities and a highly-talented team. The results, as demonstrated by our current performance were only possible because of all this groundwork. 'I would like to take this opportunity to congratulate everyone at comeleon for achieving so much in such a short period and to all those outside the Company who have contributed to its success to date. This is a very exciting business, it has, in my opinion, world-beating technology with enormous potential. A short while ago it was just a vision, now it is reality, but we have a vision for the future within comeleon , which will drive it ever forward.' Jon Pither, Chairman For further information, please contact: Roy Stanley, Chief Executive Officer Tel No: 01207 693301 Tim Robinson, Finance Director Comeleon plc www.comeleon-ir.co.uk Tim Anderson Tel No: 0207 466 5000 Lisa Baderoon Buchanan Communications Limited www.buchanan.uk.com This information is provided by RNS The company news service from the London Stock Exchange
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