AGM Trading Statement

SIG plc, the market leading specialist distributor of insulation, roofing and interior products is holding its Annual General Meeting today, 30 th April 2004.

David Williams , Chief Executive, will be making the following statement concerning trading:

“The Group has traded well during the first quarter of 2004 with like for like sales ahead in all three of our operating regions (i.e. the UK and Republic of Ireland, Mainland Europe and in the USA).

In the UK and Republic of Ireland, growth has been achieved across all product and market sectors including insulation, roofing and interiors. Specifically within the premium office products business, our performance has improved despite continued depressed market demand.

Performance in Mainland Europe has been encouraging and growth achieved in all countries in which we operate. Market conditions are subdued but stable in France and Benelux. In Germany, whilst conditions remain challenging, the rate of decline in the market has slowed compared with recent years. The general economic recovery in Poland has continued into 2004, driving increased demand for our products.

In the USA, we have had an encouraging start to the year, albeit against a low base in the first quarter of 2003. Our operations in the Gulf are enjoying some increase in project work and our branches along the Eastern Seaboard have seen an upturn in commercial demand.

We see further opportunities for expansion both through additional trading sites and suitable complementary acquisitions. So far this year we have opened 3 new roofing branches in the UK and acquired an interiors business in France with 3 branches.

This very encouraging start to the year gives the Board confidence that the Group will continue to make further progress.”