Positive AGM Trading Update

Carr's Milling Industries PLC 06 January 2004 CARR'S MILLING INDUSTRIES PLC CHAIRMAN'S AGM STATEMENT RE CURRENT TRADING AND PROSPECTS 'Carr's remains on track for further progress' At the AGM of Carr's, the agriculture, food and engineering group, in Carlisle this morning, the Chairman, David Newton, will make the following statement: 'Trading in the four months to end December 2003 is ahead of both budget and the corresponding period of the previous year. The positive variance relative to budget is principally in the areas of fertiliser and of animal feed blocks in the UK and Continental Europe. The improved trading overall is notwithstanding expected declines in US animal feed blocks in the absence of a Cattle Feed Drought Assistance Programme, in the UK, agricultural machinery, the impact of higher cereal costs on UK animal feed and flour, in advance of this month's price increase for flour. As was stated in the Preliminary Announcement of 10 November 2003, in the current year, UK Agriculture will benefit for a full year from the rationalisation of fertiliser blending facilities into three plants; US Agriculture from the commissioning in October 2003 of an upgrade of the second production line at Poteau, Oklahoma; and Engineering from both the elimination of Keytor's losses following its closure in March 2003 and Hinds operating from one site throughout the year. Conversely, the incremental pension charges for the full year will cost a further £0.2m. Accordingly, Carr's remains on track for further progress.' Enquiries: Carr's Milling Industries PLC 01228-554 600 Chris Holmes (Chief Executive Officer) Ron Wood (Finance Director) Bankside Consultants Limited Charles Ponsonby 020-7444 4166 Notes for Editors: Carr's Agriculture business comprises low moisture animal feed blocks in the UK and USA, fertiliser, compound feed and 15 retail branches selling machinery and farm supplies. Agriculture is much the largest Division. Carr's principal Food business is Carr's Flour Mills, based in Silloth, Cumbria supplying high quality flour for both the manufacturing and retail markets. The Engineering Division, based in Carlisle, comprises Bendalls (a high integrity welder) and Hinds (a commercial vehicle body building business). Engineering is much the smallest Division. This information is provided by RNS The company news service from the London Stock Exchange