RNS Number:2452T
Durlacher Corporation PLC
15 December 2003

15 December 2003



                           Durlacher Corporation Plc

                                  AGM Statement


At the Annual General Meeting of Durlacher Corporation plc held earlier today,
all of the resolutions put to the meeting were duly passed. All of the directors
seeking re-appointment were re-elected.



At the meeting, Christopher Stainforth, Chief Executive, said:



The radical restructuring of Durlacher is now largely completed. The business
today is a very different one compared to when I joined the company in April
2002, having seen us successfully transform it into an investment bank with a
broad base of activities focused on small to mid cap companies.



We now operate principally in the UK equity markets and I am pleased to report
that we have made a positive start to the new financial year.  There has been a
notable improvement in market sentiment and a general upturn in trading and
corporate activity.  We now have 32 corporate clients and are in discussions
regarding a further ten mandates.  We have been involved in IPO and merger and
acquisition activity, one of the most recent being as Adviser and Broker to
Straight plc where we led an IPO.



In the equity division we have added three new analysts, Nick Ward covering
media, Sanjay Jha covering technology and Martin Potts on the mining sector.  We
have also hired Andrew Sutcliffe as Director of Sales who will be reporting to
David Banks, head of equity sales.



I am pleased to report a healthy pipeline of corporate finance business and we
continue to seek recruitment of high-quality personnel. We continue to be
growth-focused and are seeking opportunities to further strengthen the business,
principally organically but also, where the right opportunity arises, through
acquisition. The Board continues to assess opportunities to integrate a
mid-sized fund management business which we believe will strengthen our overall
institutional offering.



We believe we are well positioned in the economic cycle. Positive sentiment
continues to return to the equity markets, particularly in the small to mid cap
sectors where market recovery is most noticeable. The FTSE 100 has stabilized,
sentiment is strong in the US and the outlook for global interest rates appears
to be good.



The combination of the radical cost restructuring programme and the uplift in
activity in our core market place provides the Board with confidence for the
future.



                                    - ends -



For further information contact:



Christopher Stainforth, Durlacher Corporation plc    0207 459 3600
David Rydell/Billy Clegg, Bell Pottinger Financial   0207 861 3232




                      This information is provided by RNS
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