United Kingdom: Greene King plc sees good and in line with expectations results in the fifty weeks to 17 April 2005

Greene King plc announced on April 21 that performance in the fifty weeks to 17 April 2005 has been good and in line with expectations. All three divisions have traded well.

Total like for like sales in Pub Company were +1.7%, while like for like turnover in Pub Partners was + 1.0%. Total beer sales by volume were + 2%. The sales of Greene King IPA were + 4%, Abbot Ale + 3% and Old Speckled Hen + 7%.

The Laurel integration project was completed in February ahead of schedule. The re-financing of the short term bank loan into a securitisation package of £600m and medium term bank debt of £450m was satisfactorily completed in March at very competitive rates.

Greene King has been brewing beer and operating pubs for over 200 years. Founded in 1799 by Benjamin Greene, it has grown steadily from its base in Bury St Edmunds, Suffolk to become a leading pub retailer and ale brewer in the south of England. In August 2004 the company completed the acquisition of 432 neighbourhood pubs from Laurel Pub Company for the sum of £654m. In March 2005 the company successfully completed a £600m securitisation of part of its managed and tenanted pub portfolios.

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