Pre year end Trading Update

Wetherspoon (JD) PLC
13 July 2004

                                                                    13 July 2004

                               JD WETHERSPOON PLC

                                 Press Release

                          Pre Year-End Trading Update

Current trading

For the first 11 weeks (to the 11 July 2004) of the final quarter, like-for-like
sales were flat resulting in a year to date like-for-like sales increase of
3.5%. In the first 7 weeks of the quarter, before the start of the Euro 2004
football tournament, like-for-like sales increased by approximately 1%. Total
company sales for the 11 weeks increased by 2.8% to £167.7 million and by 7.8%
to £753.3 million in the year to date.

We believe that like-for-like sales growth has slowed as a result of stronger
competition from supermarkets and pubs, combined with the effect of Euro 2004.
In a minority of pubs, for example Lloyds, we already had televisions before
Euro 2004 and we introduced televisions in a few dozen additional outlets. In
these pubs, like-for-like sales were strong during England's matches but were
negative for the tournament as a whole.

In addition, a switch to lower strength drinks (as we have sought to comply with
the advice of the Portman Group and other bodies in this area) has resulted in a
weakening in sales in some categories including spirits and cocktails.

Property

We anticipate that we will have opened a total of 28 pubs in the year to 25 July
2004 and we have exchanged contracts for 5 of the 10 pubs identified for
disposal earlier in the current financial year.

Outlook

Given the current level of sales growth, we now expect profits (before tax and
exceptional items) for the current financial year to be slightly below the
current range of analysts' forecasts.

As indicated in previous statements, there are a number of taxes, licensing and
other regulatory issues which are increasing our costs. We expect our results
for the next financial year to be further affected by a 40% increase in gas and
electricity charges, costing approximately £4 million.

The company continues to concentrate on generating strong operating cash flow
and, in the year to date, has funded all its capital expenditure on existing and
new pubs from organic cash flow. In spite of the current demanding trading
environment, the company is confident of its future prospects.

The Company intends to announce its preliminary results on 3 September 2004.

Enquiries:

  Jim Clarke               Finance Director         01923 477777
  Eddie Gershon            Company Spokesman        0208 352 5012 / 07956392234


Visit our web site at www.jdwetherspoon.co.uk


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