RNS Number:1451L
Telspec PLC
15 May 2003



15 May 2003



Telspec plc



AGM Statement, Board Appointment and AGM outcome



At today's AGM the Chairman, Peter Espenhahn, made the following statement:


"Market conditions for both our access and our switching products remain
difficult, with many customers deferring investment decisions. As a result,
sales for the first half of the year will be significantly below those for the
first half of last year.


We have, however, mitigated the effect on profits by continuing to focus on
cutting costs to a level more appropriate to the reduced sales base and by
controlling working capital and conserving cash.


We have at the same time continued to invest in product development in order to
keep our product portfolio competitive and to address additional market
segments."


Board Appointment


The Chairman also announced the appointment to the Board of Jeff May who has
been with Telspec since July 1997 and is the Group Sales and Marketing Director.
Jeff, an Economics Graduate, is 44 years old and has over 20 years' experience
in telecoms.


AGM Outcome


All the resolutions put to the meeting were duly passed. Resolution 7, relating
to an increase in the permissible limit on fees payable to directors was,
however, withdrawn and not put to the meeting.



Enquiries:


Magnus Braxell            Chief Executive

Martin Parmenter            Finance Director

01634 687133






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