MJGleeson Regulatory News (GLE)

14 Dec 2007 11:00

Gleeson(M J)Group PLC14 December 2007 Friday 14 December 2007 MJ GLEESON GROUP PLC AGM Statement At the AGM of MJ Gleeson Group plc (GLE.L), the house-builder specialising inurban housing regeneration, convened for 11 a.m. today in London, the Chairman,Dermot Gleeson, will state: "Powerminster Gleeson Services and Gleeson Capital Solutions have continued toperform well and the run off of Gleeson Properties is broadly on track. Demand in the housing market, however, has deteriorated further. This has had aparticularly marked impact on Gleeson Regeneration & Homes sales in the North,where, as recent research has highlighted, buyers are more heavily mortgagereliant than in the South. In these circumstances, the achievement of a profit for the current year in linewith market expectations will depend on another strong performance by GleesonStrategic Land. The Board believes that this is a realistic prospect but wishesto stress that it is not prepared to accelerate the completion of land sales tomeet short term targets if, by doing so, shareholder value is eroded.An update of the Group's prospects, coinciding with the beginning of the springhouse selling season, will accompany the publication of the interim results onFriday 29 February 2008." Enquiries M J Gleeson Group plc 01252-360 300Dermot Gleeson (Chairman)Paul Wallwork (GCEO)Chris Holt (GCFO) Bankside ConsultantsCharles Ponsonby 07789-202 312 This information is provided by RNS The company news service from the London Stock Exchange