2004 Segment Analysis

Bunzl PLC
22 July 2005

                                                                    21 July 2005


                              2004 SEGMENT ANALYSIS

Further to the announcement made on 28 June 2005, Bunzl plc, the international
distribution and outsourcing Group, is today issuing an analysis of revenue and
operating profit for the first half of 2004 and the full year 2004 showing the
Group's continuing operations in three business segments and Filtrona as
discontinued operations.

                                                 Revenue           Operating profit
                                   Six months    Year to      Six months    Year to
                                  to 30.06.04   31.12.04     to 30.06.04   31.12.04
                                           £m         £m              £m         £m
-----------------------------------------------------------------------------------

North America                           673.7    1,412.9            49.3      105.1
UK & Ireland                            307.1      638.9            22.1       51.2
Continental Europe & Australasia        140.5      386.7             7.2       26.5
                                    --------------------        --------------------
                                      1,121.3    2,438.5            78.6      182.8
Corporate                                                           (6.6)     (13.9)
Intangible amortisation                                             (1.3)      (6.3)
                                    --------------------        --------------------
Continuing operations                 1,121.3    2,438.5            70.7      162.6

Discontinued operations                 237.6      477.5            28.0       54.5
Intangible amortisation                                             (0.2)      (0.5)
                                    --------------------        --------------------
                                      1,358.9    2,916.0            98.5      216.6
                                    --------------------        --------------------

For the six months to 30 June 2004 all of the intangible amortisation for
continuing operations related to Continental Europe & Australasia. For the year
to 31 December 2004 intangible amortisation for continuing operations comprised
North America £0.3m, UK & Ireland £0.1m and Continental Europe & Australasia
£5.9m.

Enquiries:

Bunzl plc                                          Finsbury
David Williams, Finance Director                   Roland Rudd
Tel: [phone]                                 Morgan Bone
                                                   Tel: [phone]




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