Business Post Chairman's AGM Statement

Chairman’s AGM Statement
“Trading remains in line with management’s expectations”
Thursday 10 July 2002
At the AGM today of Business Post, one of the UK’s leading express delivery companies, the Chairman, Peter Kane, issued the following update on current trading and prospects.

“In the preliminary announcement of results for the year ended 31 March 2003, on 20 May 2003, I said that trading in the first seven weeks of the new financial year had been encouraging. Today, I am pleased to confirm that trading remains in line with management’s expectations.

It is also a pleasure to announce two important new customer wins in the high-tech sector. Firstly HomeServe, the Group’s UK business-to-consumer parcel service which provides a high quality next day service to residential addresses, has secured a contract with Walsh Western International, the Dublin-based logistics supplier to the high-tech industry. The contract involves the delivery of computers and accessories to home users and is, once fully operational, expected to have annualised revenues of approximately £4 million, making Walsh Western International the Group’s second largest customer.

In addition, Express, the Group’s UK business-to-business parcel service, has won a three year agreement with Computacenter (UK) Ltd, one of Europe’s leading independent providers of IT infrastructure services. Delivering computers and peripherals to businesses throughout the UK, this contract is expected to have annualised revenues of approximately £2 million.”

Enquiries:
Business Post Group plc

Paul Carvell (Chief Executive) 0121 335 111
Peter Fitzwilliam (Finance Director) 01753 706070

Bankside Consultants Limited
Charles Ponsonby 020 7444 4166