RNS Number:4976J
Recycled Waste PLC
01 April 2003

Recycled Waste plc ('Recycled Waste' or 'The Company')

Suspension update

Following shareholder approval at the recent AGM held on 18 March 2003 the
Company has progressed its plans to restructure and regenerate the business and
to recruit new management.

Agreement has been reached to form a new subsidiary company to exploit
opportunities in recycling glass where contracts can be gained for the product
created. An experienced individual with an established track record and the
necessary industry contacts will be appointed as Managing Director. The initial
plant will be situated at Recycled Waste's site at Speke.

Negotiations previously announced for the acquisition of a clinical waste
business have not resulted in agreement and the directors now plan to develop
the Company's business by the recruitment of new experienced senior management
and the generation of clinical waste revenues. Discussions are in progress and a
further announcement will be made following an appointment.

Conditional agreement has been reached for a sale and leaseback transaction on
the Company's site at Speke Liverpool, which the Company is in the process of
acquiring, for a mixture of cash and shares, in order to provide working capital
in support of the new business plan. As approved by shareholders at the AGM, the
Directors also propose to seek additional funds via a placing to ensure
sufficient financial resources for the Company's forward needs.

The financial position of the Company continues to be difficult, and whilst
these acquisitions and fundraising are being negotiated, the directors believe
it is in the interests of shareholders to continue with the suspension of the
Company's shares. It is anticipated that the suspension will be lifted on
completion of the acquisitions and fundraising.

Further announcements will be made as matters progress.


Contacts:     Lindsay Mair, John Prior - Corporate Synergy Tel: 0207 626 2244
              Simon Freedman - Recycled Waste plc.  Tel: 01242 254499


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