Sale of Retail Wine Shops Business

Fuller,Smith & Turner PLC
18 January 2000

                               
              Sale of Retail Wine Shops Business
                               
Fuller, Smith & Turner P.L.C. ('Fuller's') announces the  sale
of  its  Retail Wine Shops business (known as Fuller's Quality
Wine   Shops)  to  Unwins  Limited  ('Unwins')  for  a   total
consideration payable in cash of £7.5m. Of this  amount  £4.3m
will  be  paid  on completion on 29th February, 2000  and  the
balance  will  be paid in six equal instalments  commencing  a
month  after  completion. Of the 61 shops which  comprise  the
business, 28 have freeholds which are not included in the sale
and  Unwins  will lease them from Fuller's. The  consideration
represents payment for stocks, fixtures and fittings  and  the
goodwill  of the business. It is subject to the assignment  of
the leases.

Unwins  has undertaken to retail Fuller's ales throughout  its
estate  under  a five year agreement. The book  value  of  the
Retail  Wine Shops assets included in the deal as at September
1999  total  £5.8M  and the business is expected  to  generate
£0.6m  profit in the current financial year.  This transaction
is expected to be earnings per share enhancing for Fuller's in
2000/01.  Fuller's  will  continue to  run  the  fast  growing
quality  wholesale  wine business that  serves  both  its  own
estate  and its free trade customers.  This business will  now
form part of the Fuller's Beer Company.

Although  the size of its wine shop chain has enabled Fuller's
to  specialise and win many awards, it has become increasingly
difficult  to  find  profitable  new  sites  and  thus  ensure
appropriate  critical  mass.  The  Quality  Wine   Shops   are
successful  and  profitable but the Board  recognise  that  in
future  it  would  have  become ever more  difficult  to  grow
profits from the existing base.

The  decision  has  therefore been taken  to  sell  the  shops
division  in  order  to  concentrate  on  the  Company's  core
activities of pubs, bars, hotels and brewing. The proceeds  of
the  sale  will  be invested in these businesses  as  part  of
Fuller's long-term strategy to improve value for shareholders.

The  purchaser,  Unwins, is a family owned company  whose  own
core  activity is running 392 off licences and whose Directors
and  purchasing department have worked closely  with  Fuller's
over many years.

Owing  to  Unwins'  larger  scale of  operation,  Fuller's  is
confident that this course of action will give its wine  shops
and  staff  the  best opportunity to flourish in  the  future.
Most  of  the employees affected will be retained  by  Unwins.
Both  Boards  believe that this transaction will result  in  a
wine  shop  chain  that reflects the best attributes  of  both
companies.

Further information:

Press  enquiries: Gill Shaffer, Public Relations Manager  0181
996 2198 or 0181 996 2175

Analysts/Brokers: Paul Clarke, Finance Director 0181 996 2070