RNS Number:0558K
Associated British Ports Hldgs PLC
15 April 2003

EMBARGO: NOT FOR PUBLICATION OR BROADCAST
BEFORE 1.15PM ON TUESDAY, 15 APRIL 2003



                      ASSOCIATED BRITISH PORTS HOLDINGS PLC
                        ANNUAL GENERAL MEETING STATEMENT

                         SATISFACTORY START TO THE YEAR


At today's Annual General Meeting, Bo Lerenius, Group Chief Executive of
Associated British Ports Holdings PLC, commented:

"I am pleased to report that we have made a satisfactory start to 2003.

Since we announced the 2002 annual results in February, and against the
background of an uncertain market, the group has continued to add further new
revenue-related investments in our core ports and transport business totalling
just over #8.0 million.  These include a #0.6 million investment in a steel
import and distribution facility at the Port of Cardiff under a five-year
agreement with Duferco Ltd;  a #2.0 million investment in the Port of Grimsby &
Immingham, backed by a ten-year agreement with Sea-Cargo AS, which will create
additional space for expansion and development, including the continued growth
of the Volkswagen Group business, and an agreement in principle with Brittany
Ferries to invest #4.3 million, under a 15-year agreement, to enhance the ferry
terminal facilities at the Port of Plymouth.

We continue to believe that the new long-term contracts which we have secured in
our UK ports business over the past three years, together with the group's
strong cash flow and diverse spread of geographical and cargo risk, will lead to
the group making further progress during 2003."



Enquiries:

Associated British Ports Holdings PLC
Bo Lerenius, Group Chief Executive                     tel:  +44 (0)20 7430 1177
Richard Adam, Group Finance Director
Margie Collins, Corporate Communications Manager

Finsbury
James Murgatroyd/James Leviton/Simon Henson            tel:  +44 (0)20 7251 3801


15 April 2003



Notes to Editors:

Associated British Ports Holdings PLC is a leading provider to shippers and
cargo owners of innovative and high quality port facilities and services.

The group's principal subsidiary, Associated British Ports (ABP), is the UK's
largest and leading ports group, handling almost a quarter of the country's
seaborne trade.

The group owns and operates AMPORTS in the USA, which handles car imports and
exports and provides auto-processing services.

The group's property investment and property development activities are focused
on opportunities within its ports.

The group employs almost 3,000 people, mainly at port locations in the UK and
USA.

This, and other news releases relating to the group, can be found on the group's
website: www.abports.co.uk



Photographs:

Print resolution images of Bo Lerenius, Associated British Ports Holdings PLC's
Group Chief Executive, operational management and general port scenes to
accompany this press release, can be viewed and downloaded, free of charge, from
www.vismedia.co.uk.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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