MEA Medsea Estates

RNS Number:3264Y
Medsea Estates Group PLC
14 June 2007



                                                                    14 June 2007
                            
                            MEDSEA ESTATES GROUP PLC
                                 AGM STATEMENT

At today's annual general meeting, Mr Tony Gatehouse, Chairman, will make the
following statement:-

"2006 was highly successful for Medsea with profits reaching a record #2.9
million pre-tax. In the annual report, posted at the end of March, I told
shareholders that the current year had started well and we expected to achieve
further growth. I am delighted to tell you today that our view remains unchanged.

"Sales in the five months to the end of May 2007 increased by 40% compared with
the same period last year. This is attributable to the excellent performance of
our Italian business where unit sales continue to beat targets substantially. In
Spain, unit sales since the end of the first quarter have slowed compared to
last year and against budget, but the Spanish economy remains strong and
domestic buying is very buoyant. At the recent SIMA '07 exhibition in Madrid,
Medsea achieved sales reservations in excess of #4 million from domestic buyers,
coupled with nearly one hundred applications for site inspections.

"The Board therefore remains confident that the Group's performance in the first
half of the year to 30 June will be in line with market expectations and that we
will continue to make progress in the second half of the year.

"To help accelerate Medsea's growth, we recently announced a share placing to
raise #700,000 and we are reviewing a number of opportunities that will enhance
our growth prospects and broaden our base."


For further information please contact:

Medsea Estates Group PLC
Tony Gatehouse, Chairman
Juan Carlos Rodriguez Martinez, Chief Executive                0034 96 570 40 02

HB Corporate
Imran Ahmad/ Edward Hutton/ Rachel Kane                            020 7510 8600

Weber Shandwick Financial
Terry Garrett/ Alex White/ John Moriarty                           0207 067 0700




                      This information is provided by RNS
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END
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