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Ulster T.V. PLC (UTV)

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Friday 31 May, 2002

Ulster T.V. PLC

AGM Statement

Ulster Television PLC
31 May 2002
                            
                  Ulster Television plc
                            
                CHAIRMAN'S AGM STATEMENT


Ulster Television Chairman, John McGuckian, will give the
following trading update at the annual general meeting of
Ulster Television plc ('UTV') today.

'It  is just under a year since our last AGM and in  that
time  the  media industry has been buffeted by the  worst
advertising  downturn in living memory. Although  we  are
not  immune  to  what has been happening  in  the  global
advertising  marketplace your company continued  to  make
excellent progress during the year.'

'We  significantly outperformed the ITV  network,  ending
the  calendar  year  on  a record  share  of  advertising
revenue.  We successful integrated County Media into  the
Group  completing  the  acquisition  of  the  outstanding
balance  of  40%  of the share capital,  creating  a  new
profit  stream.  We continued to grow our  customer  base
for  UTV  Internet  in  both  Northern  Ireland  and  the
Republic of Ireland, achieving operating profitability at
UTV  Internet in the second half of the year, well  ahead
of original targets.'

'We  established a new consortium, Absolute Radio UK Ltd,
with  respected radio industry executives and  a  leading
European radio group and through this have embarked  upon
our  strategy  of applying selectively for  regional  and
local  radio  licences in Great Britain and  seeking  out
other appropriate opportunities.  We identified and  took
a 50% stake in a start-up operation in Dublin, Bocom Ltd,
which  has the potential to grow a new revenue stream  by
supplying    advertising   content   by   satellite    to
strategically placed plasma screens.  And, more recently,
we reached agreement on the acquisition of Limerick-based
Treaty  Radio  Ltd, which, if approved by the  regulatory
authorities, will be a further significant  step  in  our
strategy to create a strong radio presence in Ireland.'

'So,  whilst it has been a difficult year for advertising
revenues, it has also been a year of progress and, almost
uniquely  for the media industry, a year in  which  Group
operating   profit  before  goodwill  actually  improved,
reinforcing your Board's confidence in proposing  to  you
today   the   increase   in   the   final   dividend   to
shareholders.'

'As  for  the  current year whilst the global advertising
downturn  continued  into 2002,  with  ITV's  advertising
revenues down by 13% in the first quarter, UTV maintained
its  outperformance  with  a 2%  reduction.   The  second
quarter,  with  the  stimulus  of  the  World   Cup,   is
experiencing  some improvement and it  now  seems  likely
that  ITV, and UTV, will achieve a performance marginally
ahead of the same quarter last year.'

'At  this  stage,  it  is unclear  whether  or  not  this
improvement can be sustained through the second  half  of
the   year.   There  are  some  hopeful  signs  that  ITV
advertising revenue in July may be slightly up but beyond
that,  in a very short-term market, it would not  yet  be
prudent to signal a possible upturn.'

'A  similar  situation  pertains in  our  radio  company,
County  Media Limited, where advertising revenue  in  the
first  half  has  experienced a  modest  reduction.   The
market  here  is again short-term and it is difficult  to
predict,  therefore,  likely performance  in  the  second
half.    Our  target  is  still  to  achieve  a   revenue
performance broadly in line with last year.'

'UTV  Internet  continues to make good  progress  with  a
growing customer base across the island of Ireland.  With
recent changes in wholesale prices to us, we will be able
to   offer  our  customers  in  Northern  Ireland  a  new
broadband product which will be launched within the  next
few  weeks.   Trading  remains profitable  and  we  would
expect  UTV  Internet to make a positive contribution  to
the Group in the full year.'


For further information:

UTV plc
John McCann, Managing Director              028 9026 2201
Jim Downey, Finance Director                028 9026 2176
Orla McKibbin, Head of Press and PR         02890 262 188

Weber Shandwick Square Mile                 020 7950 2800
Chris Lynch/Becky Haywood

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