Trading Update

Associated British Foods PLC
24 February 2003

24 February 2003

                          Associated British Foods plc

                        Pre Close Period Trading Update



In line with current market practice, Associated British Foods plc issues the
following update prior to entering its close period for its interim results to 1
March 2003, which are scheduled to be announced on 16 April 2003.



Our overall trading experience to date has not altered since the Chairman's
statement at the Annual General Meeting on 5 December 2002 when he said that
results were in line with budget to deliver further real growth.  Trading
remains broadly in line with our expectations at the beginning of the financial
year.



The campaign at British Sugar has progressed well with a crop forecast at over
1.4m tonnes and extraction rates at record levels.  Combined with prices which
have benefited from a strengthening of the euro, this has more than offset the
effect of a 40,300 tonne temporary quota cut and lower world sugar prices.
Depressed sugar prices in China and Poland will result in a reduced contribution
from British Sugar Overseas.



Trading at George Weston Foods in Australia has been encouraging and progress
has been made in reducing overheads.



The integration of Mazola into ACH's existing oils business has been
successfully completed and trading is in line with expectation.  Following the
completion of the acquisition of Ovaltine in December, the integration of the
business is progressing satisfactorily.



At Primark, sales and profit reflect the increase in retail selling space and
like for like growth ahead of that achieved last year.  The refit of 11 existing
stores commenced in the last financial year has been completed and one further
store has been opened this year, in Birmingham, taking the total to 115 stores.



As indicated in the last annual report, we have reviewed the need to recommence
contributions to the main UK pension scheme in the light of changes in financial
market conditions since the last actuarial valuation.  Although the scheme
remains in surplus, we also indicated that the resumption of contributions will
result in an incremental charge to the profit and loss account compared to last
year, estimated at £4m in the interim results and £9m in the full year.



Since last financial year the group has completed the acquisition of Ovaltine
and the minority shareholding in George Weston Foods in Australia for £232m.
Proceeds from the disposal of Allied Glass Containers, the third party flour
milling business in Britain and the rice specialities business in the US are
estimated at £118m.



For further enquiries please contact:

Associated British Foods

John Bason, Finance Director                       Tel: [phone]

Citigate Dewe Rogerson

Jonathan Clare, Chris Barrie, Sara Batchelor       Tel: [phone]


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