RNS Number:6822H
Raft International PLC
19 February 2003


                 Raft International plc ("Raft" or the "Group")

                                 AGM Statement

At today's Annual General Meeting of Raft International Plc, David Priestley,
Chairman said:-

Trading conditions, as highlighted at the time of our preliminary results in
December 2002, remain challenging with the Group continuing to experience
purchasing delays and lengthy sales cycles. This is primarily due to clients
adopting stringent budget controls as well as detailed verification and
authorisation processes.

Despite this difficult trading environment, I am pleased to report that in the
last five months, your company has succeeded in winning a combination of 4 new
European and North American contracts with a value in excess of #2.6 million. In
addition, our ongoing pipeline is encouraging and, unless market conditions
deteriorate further, we are optimistic that we will announce additional contract
wins in the coming months.

Contract wins in the first quarter combined with a healthy sales pipeline going
forward strongly support the Board's strategy of concentrating on Raft's core
operational risk management and credit risk management solutions for the
investment banking and energy sectors. These flagship sector products and
solutions represent Raft's long-term strategy and, fuelled by strict new
corporate governance regulations, will drive the Group towards profitability in
the medium term.

Your Board has completed a reorganisation of the Group. This process has
included strengthening our management team, improving our US sales capability
with a new office opening in Houston Texas as well as enhancing our R&D
capability. These changes, in tandem with continued cost control initiatives
have created a lean organisation able to leverage opportunities and compete more
efficiently. Trading conditions continue to remain extremely challenging for our
sector but we are cautiously optimistic for the year ahead.

All resolutions proposed at the Annual General Meeting were duly passed.


Press enquiries:

Sandra Kelly, CFO        Raft International plc             + 44 (0)20 7847 0400
Shane Dolan              Biddicks                           + 44 (0)20 7448 1000


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