AGM Statement

CHAIRMAN'S REMARKS TO SHAREHOLDERS AT AGM

ABBEY CURRENT TRADING

Ladies and Gentlemen, welcome to the 76th Annual General Meeting of Abbey plc. Before commencing the formalities this morning, I wish to make a brief statement about current trading.

Trading in the early months of the year has been encouraging. Progress is being made across all parts of the business.

In southern England our sales have been strong in recent weeks due to the keen take-up of the government's 'help to buy scheme'. This bodes well for the year.

In Ireland our new development in Shankill, Co Dublin has been very well received with good forward sales.

On present trends the Group is on track for a good year.

Charles H Gallagher

Executive Chairman

-ENDS-