RNS Number:7923P
AIT Group PLC
16 September 2003

0700, 16 September 2003

                                 AIT GROUP PLC
                            ("AIT" or "the Company")

                                 AGM Statement

At the Company's AGM being held at 10 a.m. today, at the Company's HQ in
Henley-upon-Thames, Richard Hicks, Executive Chairman, will make the following
statement:

Key Points:

  * AIT is making good progress with its turnaround plan and is now trading
    profitably.

  * Financial position will be strengthened through additional #5m of funding.

  * Cash flow to be improved by rescheduling of debt.

  * Global sales initiative significantly strengthened through appointment
    of Keith Waterman, Head of Global Sales.

  * New product development initiatives are progressing well.

  * Prospects for AIT's flagship product, Portrait, are encouraging.


Statement in Full:

"I am very pleased to be able to announce that trading in the new financial year
has commenced as forecasted by our new management team.  The strict financial
controls which the team have put in place, combined with an encouraging level of
demand for Portrait, our flagship CIM product, have enabled AIT to trade
profitably in the financial year to date.

Phase 1 of the Turnaround plan involved a radical overhaul of the Company's cost
base to a level more consistent with anticipated revenues. In implementing Phase
1, it was also of vital importance that we retained the loyalty of our customers
worldwide. The ongoing adoption of Portrait by such organisations as Nationwide
Building Society and Rainier Pacific Bank demonstrates that we have been
successful. Phase 1 of the plan was completed on 31 March 2003.

Phase 2 of the plan envisages the stabilisation of AIT and a period of modest
profitability, which we have now entered.  The Company's financial position will
also be significantly strengthened through the securing of a further #5m of
funding from the issue of the Convertible Loan Notes. Furthermore, cash flow
will be improved by the rescheduling of certain of the Company's debt
obligations, as announced on 22 August 2003.

A key component of our turnaround plan is the restructuring of our sales force
and we have already made several important appointments in this area.  Our sales
initiative has now been further strengthened through the appointment of Keith
Waterman as Global Head of Sales, with overall responsibility for global sales
management, strategic alliances and partnerships, and marketing. Keith will be a
major asset to the AIT management team. He has excellent credentials in the IT
sector, with extensive experience of building and leading business development
teams to sell software to financial services organisations.

We have made good progress with new product development initiatives and we
continue to deliver new versions of our product on time and to specification.
It is our intention to build upon Portrait's technical superiority, so as to
allow the Company to continue to offer the best of breed solution in a growing
CIM market.

We recently commenced work on a contact handling system for a leading UK Police
Force.  This represents an important first step into a new vertical sector and
we see other opportunities developing for Portrait in the emergency services
market.

In addition to our existing customers in the financial services sector, we are
also working on a number of projects with several other financial organisations.
Prospects for our Portrait product are therefore encouraging.

I would like to take this opportunity to thank our staff once again for the high
level of commitment they continue to show to the Company. It is due to their
enthusiasm and determination that I am able to be confident that we will
continue to drive the Company steadily forward towards Phase 3 of the turnaround
plan: to return AIT to the type of growth and profitability experienced during
the first fifteen years of the Company's existence."

Richard Hicks
Executive Chairman


EGM and Conversion of Loan Notes

As announced on 22 August 2003, the Annual General Meeting will be followed
immediately by an Extraordinary General Meeting to seek the approval of the
Independent Shareholders of a waiver, which the Panel has agreed to grant
(subject to such approval being obtained), of the obligation of the members of
the Concert Party or any of them under Rule 9 of the City Code that would
otherwise arise to make a mandatory offer for the Company upon conversion of the
Loan Notes and/or the Director's Loan and Former Directors' Loans and to seek
the necessary authorities and disapplications under the Act to permit the Board
to allot the New Ordinary Shares arising upon conversion of the Convertible Loan
Notes.


ENQUIRIES:

AIT Group plc                                    Tel.      01491 416600
Nick Randall, Chief Executive Officer
Matthew White, Chief Financial Officer

Arbuthnot Securities                             Tel.      020 7002 4600
Guy Peters
Dru Danford

ICIS                                             Tel.      020 7628 1114
Archie Berens
Caroline Evans-Jones



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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