AGM Statement

Marston's PLC
25 January 2008

                                                               25th January 2008


                          MARSTON'S PLC ('Marston's')


                      AGM AND INTERIM MANAGEMENT STATEMENT
                          16 weeks to 19 January 2008


Marston's PLC issues the following Interim Management Statement in advance of
the Company's Annual General Meeting to be held at 12 noon today.


Trading

Group sales were 7.9% ahead of last year for the 16 week period reflecting the
acquisitions of Sovereign Inns, Eldridge Pope and Ringwood Brewery in 2007.

In Marston's Inns & Taverns, our managed pub division, like-for-like sales
increased by 1.0% for the 16 week period to 19 January 2008 against strong
comparatives with reported like-for-like sales growth of 7.0% for the same
period last year. In the last 8 weeks to 19 January 2008 like-for-like sales
were 0.1% ahead of last year. Food sales have continued to show excellent
like-for-like sales growth of 9.5%, although higher margin wet sales and machine
income were 2.6% and 9.8% below last year respectively.

In Marston's Pub Company, our tenanted and leased pub division, like-for-like
profit was 0.6% below last year in the period with growth in rental income
offset by weak volumes and machine income in line with market trends.

In Marston's Beer Company overall volumes are below last year.  However we have
continued to increase market share in a weak beer market with regional premium
ales from the Jennings and Ringwood breweries showing good growth.   This summer
we aim to build on our successful association with cricket in England and Wales
through becoming the Official Beer of the Twenty20 Cup.

Costs across the Group have been well controlled notwithstanding inflationary
pressures in brewing and food purchasing, but the changes in sales mix described
above will continue to have an impact on operating margins.


Financing and cash flow

Net debt and cash flow are in line with our expectations. We announced on 19
November 2007 the terms of a £330 million tap of our securitisation which
completed on 22 November 2007. Following this refinancing nearly all of our
borrowings are at effectively fixed rates with a blended cost of debt of
approximately 6.1%.

Since 30 September 2007 we have purchased 8.7 million shares at a total cost of
around £29 million, meeting our stated target of returning £150 million to
shareholders in the 2007 calendar year.


The Board

Peter Lipscomb will retire from the Board following this Annual General Meeting,
and we thank him for the significant contribution he has made to the development
of the Company since he joined in 2000. On 21 January 2008 we announced the
appointment of Neil Goulden, Chief Executive of The Gala Coral Group, as a
Non-Executive Director from 31 March 2008 and we look forward to welcoming him
to the Board.


Outlook

We remain cautious about the outlook for 2008 as a consequence of the smoking
ban, weaker consumer confidence and pressures on costs and margins. However, our
high quality pub estate is well positioned to exploit favourable market trends
including the growth in casual dining.  Our value for money offers and
mid-market position are appropriate for the current economic climate.



Ralph Findlay, Chief Executive, commented as follows:

'Marston's has a clear strategy for growth and a strong balance sheet supported
by a substantially freehold pub estate which provides us with significant
operational and financial flexibility. We are working hard to reduce the impact
of rising costs while supporting tenants and lessees in this challenging market.
Our new build pub programme is on track and our pub estate is well positioned
for the current economic climate and for longer term market trends.'

The next report to shareholders will be on 23 May when Marston's issues its
interim results for the 26 weeks to 29 March 2008. An Interim Management
Statement will be issued in early July followed by a pre-close trading update in
early October in respect of the 53 week period to 4 October 2008.

There will be a conference call for analysts and investors at 8.30am today.  To
access the call, please contact James White at Hudson Sandler on [phone]
4133.




ENQUIRIES:

Marston's PLC                                        Hudson Sandler
Ralph Findlay, Chief Executive                       Andrew Hayes / Nick Lyon
Paul Inglett, Finance Director

Tel: [phone]                                    Tel: [phone]



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