AGM Statement

Anglo-Eastern Plantations PLC 14 June 2000 ANGLO-EASTERN PLANTATIONS plc AGM STATEMENT At the AGM in London this morning of Anglo-Eastern Plantations, which operates and is developing plantations in Indonesia and Malaysia amounting to some 40,000 ha producing palm oil, rubber and cocoa, Mr Peter O'Connor, the senior independent non-executive Director, stated 'The current year began with very strong FFB (fresh fruit bunches) production and this has continued up to the present. Production is 25% ahead of last year and 27% ahead of budget: in May our Tasik mill processed a record monthly crop. While we must be prepared for some downturn later in the year, we still expect crops for the year as a whole to be better than expected. I am pleased to report that harvesting on our Bengkulu project began at the end of May. Although crop levels will not be significant this year, this is the first stage of a quantum jump in the group's output. Against this positive background, CPO (crude palm oil) prices have fallen sharply to about $312 per tonne from $375 at the time of the announcement of our results six weeks ago. In local terms the effect is compensated by a further weakening of the Rupiah to around 8,500: $ from 7,100 at the beginning of the year. The fall in the Rupiah reflects continuing political uncertainty in Indonesia. We cannot expect the massive changes required there to happen overnight or, necessarily, smoothly but we remain confident in the prospects for the long term for Indonesia and for our project in particular.' Enquiries: Anglo-Eastern Plantations plc 020 7236 2838 Rollo Barnes (Chief Financial Officer) 00 60 3 293 2352 Bankside Consultants Limited 020 7220 7477 Charles Ponsonby