Trading Statement

STOCK EXCHANGE ANNOUNCEMENT
3rd May 2002

FLETCHER KING PLC
Trading Update
                                    
At the time of the announcement of its Interim Results in January of
this year, Fletcher King PLC ("Fletcher King") advised shareholders that
the results in the second half were likely to be in line with the first
half. This opinion was based on the level of enquiries and the volume of
new business in the pipeline at that time.

In common with other companies in its sector, in recent months Fletcher
King has experienced a slow down in its core property market activities.
This has depressed the performance of the London office. This remains
profitable, but its second half contribution is well below expectations
particularly as a result of certain key transactions failing to complete
before the year end. Fletcher King Howard, the company's construction
services business, has also traded profitably in the second half albeit
at a level below expectation. However, this positive contribution has
been eliminated by two bad debts, which now have to be written off.

Taken together, this will mean that Fletcher King's second half
performance will be well below expectations, resulting in the full year
profit before tax being substantially reduced.

Fletcher King is a robust business with a strong balance sheet featuring
substantial cash reserves. The Board is confident that the company will
benefit as the market improves and it is, therefore, the Board's
intention to pay a final dividend.

                                   

For further information, please call:
David Fletcher
Fletcher King PLC        020 7493 8400

Christopher Joll
MJ2 Ltd                  07721 330730

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