Preliminary Statement

Smart(J.)&Co(Contractors) PLC
2 November 2000


J SMART & CO (CONTRACTORS) PLC AND SUBSIDIARY COMPANIES
ACCOUNTS FOR THE YEAR ENDED 31 JULY 2000
PRELIMINARY STATEMENT

As indicated at the interim stage, profits for the second half of the year
exceeded first half profits resulting in a Group profit for the full year of
£3,035,000.  This compares with a profit for the previous year of £3,099,000.

The results of J Smart & Co (Contractors) PLC and its subsidiary companies 
for the year ended 31 July 2000 are as follows:-

                                                    2000             1999
                                               £'000     £'000   £'000   £'000

Turnover, as adjusted for the change in 
stocks of finished goods and work in progress           13,479          14,633
Own work capitalised                                     3,281           1,892
Other operating income                                   3,891           3,484
                                                        ______          ______
                                                        20,651          20,009
                                                        ______          ______

Group Profit on ordinary activities
before taxation                                          3,035           3,099

Tax on Profit on ordinary activities                       268             890
                                                        ______           _____
Group Profit on ordinary activities
after taxation                                           2,767           2,209

Dividends (Note 3)

   Interim paid 2.80p Nett
   (1999 - 2.80p)                               138               136

   Proposed Final 7.95p Nett
   (1999 - 7.70p)                               392               380
                                                ___               ___

                                                           530             516
                                                        ______           _____

Retained Profit for the Year                             2,237           1,693
                                                        ______           _____

Earnings per share                                      27.45p          21.91p

Notes:-

1.     The above profit and loss account is an abridged version of the
       Company's full consolidated accounts which have not yet been filed
       with the Registrar of Companies and which have not yet been reported
       on by the Company's auditors.

2.     After extensive discussions with the Inland Revenue in respect of
       provisions for losses on long term contracts, substantial repayments of
       tax plus interest supplement thereon for the years from 1992 to 1996
       were received during the year.

3.     Certain shareholders have waived their rights to the interim dividend
       and the proposed final dividend aggregating £553,592.

4.     There is no difference between the rate of earnings per share when
       calculated on the fully diluted or undiluted basis.

5.     The Annual General Meeting will be held in Edinburgh on 14 December
       2000 and it is intended to pay the proposed final dividend, if
       approved,on 18 December 2000 to members on the register at close of
       business on 1 December 2000.


       BY ORDER OF THE BOARD

       Secretary