Final Results - Year Ended 26 December 1999

Domino's Pizza UK & IRL PLC
18 February 2000



                DOMINO'S PIZZA UK & IRL plc
                MAIDEN PRELIMINARY RESULTS
         FOR THE 52 WEEKS ENDED 26 DECEMBER 1999

Domino's Pizza UK & IRL plc ('Domino's Pizza') announces
its maiden preliminary results since its flotation on the
Alternative Investment Market (AIM) in November 1999.

Highlights

System sales increased 16% to £63.5m (1998: £54.9m)

Group turnover up 24% to £25.6m (1998: £20.7m)

Operating profit before exceptional items up 31% to
£2.06m (1998: £1.58m)

Pre-tax profit before exceptional items increased by
19% to £1.85m (1998: £1.55m)

Earnings per share (adjusted for exceptional items) up
12.1% to 3.06 pence per share

Number of stores up to 201 from 175

Like-for-like sales up 5.6%

Successful flotation on AIM

E-commerce strategy launched

Colin Halpern, Chairman of Domino's Pizza commented:

'I am delighted to report these excellent results, the
first since the flotation of Domino's on AIM in November
1999. Sales and profits both grew substantially in the
period and we opened a record number of stores, reaching
over 200 by the year-end. Our e-commerce strategy has been
successfully launched and we expect this to be a key growth
area this year and beyond'

Contact:

Domino's Pizza                     01908 580000
Stephen Hemsley / Chris Moore

Buchanan Communications            0171 466 5000
Richard Oldworth / Jennie Duschenes

Notes to editors:
Domino's Pizza Group Limited is a wholly owned subsidiary
of Domino's Pizza UK & IRL plc, which is quoted on the
Alternative Investment Market of the London Stock Exchange.
Domino's Pizza Group Limited is the UK's leading pizza
delivery brand by sales and holds the master franchise to
own, operate and franchise Domino's Pizza stores in the UK
and Ireland. The first UK store opened in 1985 and there
are currently 201 stores in the UK and Ireland.

Domino's Pizza is the world's leading pizza delivery
company and was founded in the United States in 1960. There
are currently more than 6400 stores open across the world
operated by approximately 1700 franchisees in 65
international markets employing approximately 120,000
people.

Chairman's Statement

Looking back often helps us in understanding what lies
ahead.   When I look back at the history of Domino's Pizza
in the United Kingdom, I am filled with enthusiasm and
excitement over what the future holds for our growing
company.

In 1985, for example, the market for Domino's Pizza in the
United Kingdom was predicted to cap out at 100 stores.
After all, what true Brit. would order a home-delivered
pizza anyway?  The market just wouldn't be there.  But by
1993, management had revised its projection to 300 stores,
citing a new eating trend in Britain that would be likely
to increase pizza intake.

Today, with more than 200 stores reaching approximately 30%
of all UK households, it is projected that the UK market
could support 900 or maybe 1000 stores based on the US
model - and Domino's could create career opportunities for
at least 20,000 people.  Next year at this time, the future
may be filled with even more opportunity for growth than we
see today.

At the start of the new Millennium, our goal is to build at
least double the number of stores in the next five years.
We expect to own, rather than franchise, more than a third
of these, to benefit even more amply from the success of
our units.  We are looking to expand Domino's current 20%
market share to closer to 50%.  This should not only
benefit Domino's, but also our many new shareholders that
joined our ranks following our successful November 1999
flotation.

We are already on our way to achieving all these goals.  In
1999, true to the spirit of innovation that lies at the
heart of Domino's Pizza, we became the first pizza delivery
company in the UK to launch online and interactive ordering
capabilities.  By embracing e-commerce at such an early
stage, we have already earned a reputation as the primary
food-delivery brand in the UK both on the internet and
interactive TV.  The instant success we witnessed at the
end of 1999 promises to be just the start of our e-commerce
activities.

In 2000 and beyond, we will build on and expand the
strategic e-commerce relationships we have forged,
including those with Sky Digital, Open TV, interactive
cable providers and many others.  We envisage hot links to
games and interactive web sites that will further set us
apart from the competition. After all, we've learned that
in business things change fast.  If you don't lead that
change, you can too easily be trampled.

Our slogan, 'Passionate about Pizza' holds true now, but we
know that as we continue to grow, we will need to expand
our capacity to handle higher volumes of orders without
sacrificing the quality that has made our delivered pizzas
number one in the UK.

After all, no matter how many stores we open and no matter
how many fresh pizzas we bake, we are only as good as the
last pizza we deliver on a busy Friday night. With an
average of 40,000 pizza deliveries on such a night, it is
no small task to make sure that the last pizza is as good
as the first.

But growth is only part of the equation at Domino's.  We
are just as proud of our existing units and our loyal
franchisees as we are of our 'tech-experts' that designed
our phenomenal web site. Our existing stores experienced an
average of nearly 6% in sales increases in 1999.  This
speaks volumes about the quality of our franchisees, store
managers and other employees who have continued to make the
Domino's experience a positive one for our long-standing
customers as well as our new ones.

Still, we give a large measure of credit to our Image 2000
refurbishment scheme where we set out to update the 'kerb
appeal' of our older stores.  Proof that a great image
reflects a great product is evidenced by the fact that all
stores that have undergone the Image 2000 treatment all
experienced significant sales increases.

Many people still look at Domino's and say we are a little
pizza delivery company.  We take that as a compliment.
This tells us that the pride we have in every pizza we
deliver comes through to all our customers. It also tells
us that no matter how much we've grown - and how much we
will continue to grow - we haven't lost that 'little pizza
company' touch. This is why our customer base continues to
grow, and why we believe our shareholders will continue to
feel the pride - not to mention the financial satisfaction
- in owning Domino's Pizza stock now, and for a long time
to come.

I thank you for your support.


Colin Halpern
Chairman
Business and Financial Review

I am delighted to report that Domino's Pizza had another
year of solid growth and a substantial increase in both
sales and operating profits in the UK and Republic of
Ireland.  The year also saw a number of important
milestones achieved with our debut on the Stock Market and
the opening of our 200th store.  It also saw the launch of
our e-commerce strategy that will become a key driver of
growth in store sales over the coming years.

Trading results

System sales, which are the sales of all stores in the
Domino's system in the UK and Republic of Ireland, rose by
15.7% to £63.5m from £54.9m. Group turnover was up 24% to
£25.6m from £20.7m. The sales growth was achieved as a
result of opening 29 new delivery stores (1998: 27 stores)
and an increase in the average sales of delivery stores of
2.0% (1998: 2.1%).  Like-for-like sales are up 5.6% (1998:
6.3%) demonstrating the value to the system of established
franchisees.

Just before the end of 1999 we reached an important
landmark for the company with the opening of our 200th
store in West India Dock Road, close to Canary Wharf in
London.  By the year-end the total number of stores in the
UK and Republic of Ireland had reached 201. Three
experimental stores located within Alldays convenience
stores and Total petrol stations were closed in 1999 (1998:
five experimental stores closed) leaving only seven such
stores in the system at the year-end.  This store format
was appropriate in the early days of expansion in the UK
when the brand was not as well recognised.  However, most
of these territories are now capable of supporting stand-
alone delivery stores.

Operating profits before exceptional items were up 30.6% to
£2,058,000 from £1,576,000.  This included a maiden
contribution of £57,000 from our 41% shareholding in Full
House Restaurants Ltd, a joint venture with a franchisee.
Gross profit margin increased to 41.3% from 38.1% as a
result of the improved operating efficiency of our new
freehold head office, commissary and distribution facility
in Milton Keynes.  1999 was the first full year of
operating from this site, which gives us significant room
for future expansion.  The costs of operating from this
significantly larger facility were reflected in a stepped
change in the level of overheads, which increased by 35.7%.
Future increases in overheads will be less dramatic.
Despite this increase in overheads, the net operating
margin continued to improve, rising to 7.8% from 7.6% in
1998.

Pre-tax profits before exceptional items were up 19.4% to
£1,848,000 from £1,548,000.  The interest charge increased
substantially in the year to £210,000 (1998: £28,000) as
full occupation of the new facility resulted in interest on
the mortgage being expensed.  During the development phase
this cost had been capitalised. The mortgage was repaid in
full by the year-end from the proceeds of the flotation.
The charge also included our share of the significant
interest expense incurred by our joint-venture partner of
£32,000, which resulted from the mainly debt financing of
store acquisitions.

The exceptional items of £495,000 incurred during the year
related principally to the professional fees and other
costs incurred in advice leading up to a flotation in early
1999 that was aborted due to market conditions.  In
addition, a charge of £62,000 was incurred on the loss
incurred in vacating the leasehold property previously used
as the Group's head office, commissary and distribution
centre.  Similar costs were incurred in 1998.

Profit before tax but after exceptional items was
£1,353,000 (1998: £1,473,000) reflecting the effect of
these non-recurring costs and an increased interest charge.
The effective tax rate for the year at 38.9% (1998: 28.2%)
results from the prudent assumption that certain
exceptional costs may not be allowed for tax purposes.  Tax
on the underlying profit remains at a similar effective
rate as in 1998.

Earnings per share and dividend

Underlying earnings per share, adjusted for the one-off
exceptional items, were 3.06 pence, a 12.1% increase over
1998.  Fully diluted adjusted earnings per share were 3.01
pence, a 10.3% increase over 1998.

The Board is pleased to propose a final dividend for the
year of 0.29 pence per share bringing the total for the
year to 0.71 pence per share, an 18.3% increase over 1998
(1998: 0.6 pence per share).  The proposed dividend for the
year is 2.50 times (1998: 4.2 times) covered by profits
after tax. Excluding exceptional items the cover for 1999
was four times, the level of cover indicated in our
November 1999 prospectus and that which we expect to
maintain in the future.

Balance Sheet

The cash position of the Group improved significantly
during the year as a result of the strong cash generating
ability of the business and the proceeds of the flotation.
At the year-end, the Group had net borrowings of £156,000
(1998: £2,623,000) against shareholders funds of £7,412,000
(1998: £3,689,000), a capital gearing ratio of only 2.1%
(1998: 71.1%).  Whilst we have significant unutilised bank
facilities to finance future expansion, we will continue to
adopt a cautious approach to gearing.

Flotation

On 24 November 1999, the company made its debut on the
Alternative Investment Market of the London Stock Exchange.
The offer for subscription was primarily targeted at our
franchisees and employees, who I am pleased to say
enthusiastically embraced the opportunity to become
shareholders.  The reception we received from institutional
investors was also very positive, leading to the overall
offer being more than three times over-subscribed.  The
shares have subsequently traded at a premium to the
flotation price, justifying the trust of our investors.

Strategy


The strategy for the future expansion of the Group will be
based on three key fundamentals.  To grow store sales,
particularly by the use of e-commerce, to increase the
coverage of the system by an accelerated roll-out programme
in our franchise territories and the enhancement of
profitability by the operation of more corporate stores.

We consider that the growth of e-commerce will have a
fundamental effect on our business in two different ways -
how we advertise our offering and how we receive orders.
Traditionally, the most cost-effective medium has been
direct mail (e.g. leaflets) and to this end we printed over
90 million pieces during the course of last year.  However,
due to the relatively low cost of this form of marketing,
it is increasingly being employed by virtually every food
delivery company resulting in what we feel is an increasing
customer fatigue of this medium.   Furthermore, the only
means by which we could receive customers' orders were
either personally at the store or over the telephone.

E-commerce has transformed this environment.  We can now
provide full menu information to every home in the country
capable of accessing the Internet or receiving digital
television via satellite and cable and at a fraction of the
cost of direct mail.  We can receive orders back from our
customers (in our delivery areas) using any of these new
sales channels and fulfil those orders in 30 to 40 minutes.
This ease of ordering and most importantly the almost
instant fulfillment capability is second to none and is why
we believe e-commerce represents such an exciting
opportunity for us.  We also have a distinctive advantage
as very few competitors have the scale, geographic spread
and infrastructure to capitalise on these opportunities.

To ensure that we maximise this opportunity we have
installed in every delivery store in the UK the technical
infrastructure necessary to allow us to take orders from
any e-commerce platform.  This installation was completed
in time for the launch of our first national interactive
television ordering service on Open TV at the end of
September and use of this service is growing rapidly.  In
December, we rolled out the online ordering service (e-
pizzaTM) via our website www.dominos.co.uk to all delivery
stores using the same infrastructure.  Since the year-end
we have secured deals with Telewest and others are expected
shortly, to provide pizza delivery services on their
forthcoming interactive TV ventures. We will also continue
our relationship with Yes TV - the company responsible for
our first interactive trial - as it expands to other areas
of the country.

We are now also in the process of establishing connectivity
between our website and those of both internet portals and
other frequently visited entertainment sites.  The range of
such sites is considerable, as is the opportunity to
generate a two-way flow of users and increase our income
potential. After just 18 weeks of trading on Open and 14
weeks of online ordering, e-commerce sales have already
reached 2% of delivery sales in the UK.  Encouragingly,
average spend per order is high, with orders via Open TV
approximately 25% higher than non e-commerce orders, and
orders via the internet showing an even greater 35%
increase.   Furthermore, 54% of Open TV orders come from
customers that are entirely new to Domino's.

The opportunities created by e-commerce can only be fully
exploited if we have the delivery infrastructure to service
this demand.  It is therefore fundamental to our strategy
that we continue a rapid roll out of new stores.  The
present 201 stores cover around 30% of the UK population.
We therefore intend to accelerate the rate of openings and
are confident that this can be maintained for a number of
years.

The number and demographics of households within a safe
delivery time dictate the siting of new stores. The
increased awareness of Domino's and acceptance of high
quality home delivered food is such that new stores require
fewer households to support viable operation.  This also
gives us the opportunity to split many of the existing
territories thereby increasing the maximum potential number
of new stores in the franchise territory.

The award winning sponsorship of The Simpsons on Sky One
has played a major part in increasing brand awareness to
81% from 65% in early 1998 in all UK homes (and 90% in
homes with satellite/cableTV).  Encouragingly, research has
recently confirmed that our sponsorship with The Simpsons
shows no sign of 'stagnation'.  Additionally the number of
homes with access to Sky One continues to increase with the
improved penetration of satellite and cable TV.  This
increased awareness coupled with an aggressive new store
opening package that was introduced in 1999 has also helped
the performance of new stores.   In their first 12 weeks of
trading, new stores in 1999 performed on average 43% higher
than new stores in 1998.

The final element of our strategy is to increase
significantly the number of stores that we own and operate
ourselves.  The store level economics of the Domino's
system can be very attractive once a minimum level of sales
is achieved.  Historically the Group's efforts have been
focused on the rapid expansion of total number of stores,
with the necessary capital investment being provided by our
franchisees.  With our flotation we now have access to the
capital necessary both to purchase existing franchised
stores and also to open new stores corporately. A number of
acquisitions of existing stores are currently under
negotiation.  We remain committed, however, to the long-
term development of the franchised system and expect
franchised stores to represent the majority of the system
for the foreseeable future.

Current trading and prospects

The beginning of year 2000 saw the launch of an aggressive
price-based marketing campaign designed to combat the
effects of reduced post-Millennium consumer spending which,
as anticipated, was subdued in the first month of the year.
We are confident of another strong performance in the
current year.


Stephen Hemsley
Finance Director


Domino's Pizza UK & IRL plc

Four Year Summary                                   
                                                    
                         1999     1998     1997    1996
                                                    
System sales (£m)        63.5     54.9     44.1    34.5
                                        
Group sales (£m) *       25.6     20.7     17.2    14.0
                                        
                                                    
Operating profit         
(£'000's)*               2,058    1,576    1,058    589
Profit before tax        
(£'000's)*               1,848    1,548    922      371
                                                    
Adjusted basic earnings  
per share (pence)*        3.06     2.73     1.92   1.40
Basic earnings per share  
(pence)                   1.91     2.54     1.60   0.89
Dividend per share       
(pence)                   0.71     0.60     -         -
                                                    
Shareholders funds       
(£'000's)                7,412    3,689    2,882    2,218
Net cash/(indebtedness)  
(£'000's)                 (156)  (2,623)    (602)    (108)
Capital gearing          2.1%     71.1%    20.9%    4.9%
                                                    
Stores at start of year  175      153      125      102
Stores opened            29       27       28       25
Stores closed            (3)      (5)               (2)
Stores at year-end       201      175      153      125
                                                    
Corporate stores at year-
end                       14        6        5        3
                                                    
Average sales per       
delivery store (£)     6,862    6,725    6,587    5,947
Sale growth (%)          2.0%     2.1%     10.8%    8.9%
                                                    
Like-for-like sales      5.6%     6.3%     11.1%   14.7%
growth (%)
                                                    
* Including joint
venture but excluding
discontinued operations
and exceptional items

GROUP PROFIT AND LOSS ACCOUNT
for the 52 weeks ended 26 December 1999



                             Before
                        exceptionalExceptional
                              items   itemsProformaProforma
                               1999    1999    1999    1998
                      Notes    £000    £000    £000    £000
TURNOVER
Turnover: group and share of
joint ventures' turnover     26,758       -  26,758  20,711
Less: share of joint 
ventures' turnover           (1,148)      -  (1,148)      -
                           
GROUP TURNOVER               25,610       -  25,610  20,711
Cost of sales               (15,024)      - (15,024)(12,813)
                         
GROSS PROFIT                10,586        -  10,586   7,898
Distribution costs          (3,340)       -  (3,340) (2,073)
Administrative expenses     (5,475)    (433) (5,908) (4,423)
                        
                             1,771     (433)  1,338   1,402
Other operating income         236        -     236     174
                        
GROUP OPERATING PROFIT        2,007    (433)  1,574   1,576
Share of operating profit                             
in joint venture                 57       -      57      -
                                      
Amortisation of goodwill                              
on joint venture                (6)       -      (6)     -
                                 
                                51        -      51      -
                      
TOTAL OPERATING PROFIT: GROUP AND
  SHARE OF JOINT VENTURE      2,058    (433)  1,625   1,576
Loss on disposal of tangible
  and intangible fixed assets     -     (62)    (62)    (75)
                         
                              2,058    (495)  1,563   1,501
Interest receivable              56       -      56      74
Interest payable and similar 
charges                        (266)      -    (266)   (102)
                          
PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION               1,848    (495)  1,353   1,473
Tax on profit on ordinary 
activities                     (526)      -    (526)   (415)

PROFIT FOR THE FINANCIAL YEAR 1,322    (495)    827   1,058
                        
Dividends on equity shares4                   (331)    (250)
                                
PROFITRETAINED FOR THE     
FINANCIAL YEAR
                                               496      808

GROUP PROFIT AND LOSS ACCOUNT
for the 52 weeks ended 26 December 1999

                                           ProformaProforma
                                               1999    1998
                                      Notes    £000    £000

Earnings per share-basic                5      1.91p   2.54p
               - diluted                       1.88p   2.54p
adjusted for exceptional items
           - adjusted basic                    3.06p   2.73p
           - adjusted diluted                  3.01p   2.73p


There are no recognised gains or losses other than those
included in the profit and loss account.


GROUP BALANCE SHEET
at 26 December 1999

                                                   Proforma
                                               1999    1998
                                    Notes      £000    £000
FIXED ASSETS
Intangible assets                               594     615
Tangible assets                               7,328   6,227
Investments

Investments in joint venture:                        
Share of assets                                     
                                                696     789
Share of liabilities                                
                                               (475)   (584)
                                               
                                                221     205
Investment properties                               
                                                373     198
                                           
                                                      
                                                594     403
                                              8,516   7,245
CURRENT ASSETS                                        
Stocks                                                
                                                772     669
Debtors                                               
                                              4,012   3,465
Cash at bank and in hand                              
                                              4,581   1,082
                                                                               
                   
                                              9,365   5,216
                                                       
CREDITORS: amounts falling due within one             
year                                         (5,852) (5,366)
                                             
                                              
NET CURRENT ASSETS/(LIABILITIES)                      
                                              3,513    (150)

TOTAL ASSETS LESS CURRENT LIABILITIES        12,029   7,095

CREDITORS: amounts falling due after more than one year
                                             (4,617) (3,406)
                                           
                                              7,412   3,689
                                           
CAPITAL AND RESERVES
Called up share capital                       2,500   1,200
Share premium account                         2,102       -
Profit and loss account                       2,810   2,489

Equity shareholders' funds                    7,412   3,689
                                       


GROUP STATEMENT OF CASH FLOWS
For the 52 weeks ended 26 December 1999
                                           ProformaProforma
                                               1999    1998
                                    Notes      £000    £000

NET CASH INFLOW FROM OPERATING 
ACTIVITIES                             3      2,489   2,607
                                    
RETURNS ON INVESTMENTS AND 
SERVICING OF FINANCE
Interest received                               56      74
Interest paid                                 (205)   (199)
Interest element of finance lease payments     (30)    (30)
                                          
                                              (179)   (155)
                                         
TAXATION
Corporation tax paid 
(including advance corporation tax)           (700)   (249)
                                       
CAPITAL EXPENDITURE AND FINANCIAL INVESTEMENT
Payments to acquire intangible fixed assets    (40)    (47)
Payments to acquire tangible fixed assets   (1,850) (3,575)
Payments to acquire investment properties     (175)    (75)
Receipts from sales of tangible 
and intangible fixed assets                    167     353
                                          
                                            (1,898) (3,344)
                                         
ACQUISITIONS AND DISPOSALS
Purchase of shares in joint venture               -   (205)
Loan made to joint venture                        -   (345)
                                           
                                                  -   (550)
                                           
EQUITY DIVIDENDS PAID                         (435)      -
                                          

NET CASH OUTFLOW BEFORE FINANCING             (723) (1,691)
                                            
FINANCING
Issue of ordinary share capital               3,825      -
Share issue costs                             (598)      -
New long-term loans                           4,500  4,824
Repayments of long-term loans                (3,000)(2,820)
Repayment of parent undertaking loan           (400)  (225)
Repayment of capital element of finance leases
and hire purchase contracts                    (105)  (140)
                                         
                                              4,222  1,639
                                      
INCREASE/(DECREASE) IN CASH                   3,499    (52)
                                         


NOTES TO THE ACCOUNTS
at 26 December 1999


1. ACCOUNTING POLICIES
Basis of preparation
The accounts are prepared under the historical cost
convention and in accordance with applicable accounting
standards.  The accounts are in compliance with the
Companies Act 1985 except that, as explained below,
investment properties are not depreciated.



2. TURNOVER AND SEGMENTAL ANALYSIS
The principal components of turnover are royalties
received, commissary and equipment sales, sale of
franchises, pizza delivery sales and rental income on
leasehold properties stated net of value added tax after
eliminating inter-company transactions.  All of the
turnover is in one continuing business segment and all of
it originates in the United Kingdom.


Geographical analysis of Group Turnover
                                         Proforma  Proforma
                                             1999      1998
£000                                         £000
Turnover by destination:
United Kingdom                             24,966    20,447
Republic of Ireland                           458       258
Continental Europe                            186         6
                                     
                                           25,610    20,711
                                      



3. NOTES TO THE STATEMENT OF CASH FLOWS
Reconciliation of operating profit to net cash inflow from
operating activities


                                         Proforma  Proforma
                                             1999      1998
                                             £000      £000

Operating profit                            1,574     1,576
Depreciation charge                           586       472
Amortisation charge                            54        48
(Profit)/loss on sale of tangible 
and intangible fixed
assets                                       (22)         4
(Increase)/decrease in stocks               (103)        10
(Increase) in debtors                     (1,145)     (792)
Increase in creditors                       1,545     1,289
                                       
                                            2,489     2,607
                                     


4. DIVIDENDS
The Board is recommending a final dividend of 0.29p. Taken
with the interim dividend of 0.42p paid in 1999 this gives
a total of 0.71p, representing an increase in the overall
dividend of 18.3%. Subject to approval at the Annual
General Meeting to be held on 17 April 2000, the proposed
final dividend will be paid on 25 April 2000 to persons
registered as holders of the Ordinary Shares at close of
business on 7 April 2000.

                                         Proforma  Proforma
                                             1999      1998
Equity dividends on ordinary shares:         £000      £000

Interim paid 0.42p (1998: 0.36p)              185       150
Final proposed 0.29p (1998: 0.24p)            146       100
                                          
                                              331       250
                                        
5. EARNINGS PER ORDINARY SHARE
The calculation of basic earnings per ordinary share is
based on earnings of £827,000 (1998: £1,058,000) and on
43,245,384 (1998: 41,563,443) ordinary shares.
The diluted earnings per share is based on 43,941,773
ordinary shares which takes into account theoretical
ordinary shares that would have been issued, based on
average market value if all outstanding options were
exercised.

An adjusted earnings per share has been provided to
eliminate the distortions caused by exceptional items of
£495,000 (1998: £75,000).  This is presented as in the
opinion of the directors this allows a better comparison of
underlying performance.

6. FINANCIAL INFORMATION
The financial information set out in the announcement does
not constitute the Company's statutory accounts for the 52
weeks ended 26 December 1999 or 27 December 1998. The
financial information for the 52 weeks ended 27 December
1998 is derived from the statutory accounts for that year
which have been delivered to the Registrar of Companies.
The auditors reported on those accounts; their report was
unqualified and did not contain a statement under section
237(2) or (3) of the Companies Act 1985. The statutory
accounts for the 52 weeks ended 26 December 1999 will be
finalised on the basis of the financial information
presented by the Directors in this preliminary announcement
and will be delivered to the Registrar of Companies
following the Company's Annual General Meeting.