Chairman's AGM Statement - [T Clarke Group News]

Speaking at today's Annual General Meeting, Russell Race, Chairman of T.Clarke plc, ("T.Clarke") the Electrical engineering and contracting company, will make the following statement.

" So far the year is progressing well. The acquisition of Waldon Electrical Contractors Limited, announced today, completes the first phase of our strategic plan to increase the Group's regional coverage and focus on 'niche' markets. We are confident that Waldon will fit well into the Group.

Looking forward, we intend to concentrate on improving cash generation as a main priority to support the development and growth of the regional businesses that we have acquired. We are confident that we will achieve our targets during the coming year.

I am pleased to report that there are positive signs in all of our markets. In particular there has been a well publicised sharp upturn in the London commercial property market. Despite our strong spread of regional businesses, this remains a key market for us. With the completion of the Bishops Square, Spitalfields only weeks away, we can announce that we have been successful in securing the fit-out for Allen & Overy which is taking 500,000 sq ft of space. This has an order value of £11 million.

The Group is currently the preferred bidder for the White City shopping development, some 2,000,000 sq ft. This major project is due for completion at the end of 2007, with an order value of £20 million. The Group is also bidding or in discussions on a number of large developments in a wide range of locations in the City, Central and West End of London which will span 2006 and 2007.

In conclusion, the Group has made a pleasing start to the year and at this stage we are on course to meet market expectations for 2005. We are looking forward with confidence to the opportunities and challenges that are ahead of us in 2006 and into 2007. I would also like to take this opportunity to thank all of our staff for their continued dedication and hard work and our shareholders for their continuing support for the Group."