RNS Number:7982N
Antonov PLC
22 July 2003


ANTONOV PLC

Chairman's AGM Statement

22 July 2003

The following is a statement to be made by Roumen Antonov, Chairman at the
Company's Annual General Meeting at 10:00am today.

"In our statement made on 24 June 2003 we updated investors of a change to our
funding and commercial strategy. Since that time we have approached a number of
organisations with the aim of finding a major business partner to back the
development and production preparation of our next-generation six-speed Antonov
Automatic Drive (AAD). At this point we have no news to report other than that
we continue to seek a business partner.

We remain in active discussions with several large German and Japanese
producers. To these we have been able to demonstrate that in our next generation
of AAD prototypes the shift quality will be even better and the manufacturing
cost could be lower than it is currently forecast to be.

In the meantime we are continuing to take steps to make best use of our
financial resources"


For further enquiries, please contact:

AAT BV Rotterdam NL - Tel: 00 31 10 412 60 46

ENDS




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