Stmnt in Response to Budget

Power Leisure PLC
6 December 2001

Statement in Response to Budget

Power Leisure plc (Paddy Power Bookmaker) notes the Minister for Finance's
reduction in betting tax from 5% to 2% in this year's Budget which is
effective from 1st May 2002.   Historically, a reduction in betting tax has
led to an uplift in betting turnover.  However, given the small scale of the
reduction it is difficult to quantify its potential impact.  Power Leisure plc
will now assess whether or not it is viable to subsidise the 2% betting tax
for its Licensed Betting Offices customers in Ireland.  Earlier this year in
response to the changed betting environment in Ireland Power Leisure plc moved
its telephone and internet betting execution services to the U.K. where they
are likely to remain.  Since October, 25% of turnover has been routed through
the U.K.    Power Leisure plc is also reviewing the other changes contained in
the Budget in order to assess their potential impact on the company.

                                     Ends


6th December 2001

Issued on behalf of Power Leisure plc by Drury Communications

For reference contact:

Ross Ivers             Mark Cahalane              Trevor Phillips
Finance Director       Drury Communications       Holborn Public Relations
Power Leisure plc      Telephone: [phone]  Telephone: [phone]
Telephone: [phone]