Trading Update

Wetherspoon (JD) PLC
20 January 2004

                               JD WETHERSPOON PLC
                                 Press Release

20 January 2004

                                 TRADING UPDATE

Sales

Like-for-like sales in the current financial year to date (25 weeks to 18
January 2004) increased by 4.9%, slightly ahead of the 4.2% reported in our
first quarter update released on 4 November 2003.

Total sales increased by 11% compared to the same period last year, slightly
lower than the 12% reported for the first quarter as a result of a small number
of pub disposals and a reduction in the number of new pub openings.


Property
In the first quarter-trading update, the Company announced plans to dispose of
ten pubs and a development site which no longer met our requirements. These
sales have now been completed and, as indicated, will result in an exceptional
loss of approximately £3.5 million.

8 new pubs were opened during the 25 weeks with approximately 30 new pubs
expected to open in the current financial year, a slight reduction in our plans
due to some delays in licensing and planning permissions and a cautious approach
to new sites.


Outlook
The interim results for the 6 months to the end of January 2004 will be
announced on 5 March 2004 and the outcome in the period to 18 January 2004 has
been in line with expectations.


Enquiries:

Jim Clarke                      Finance Director                    01923 477777

Eddie Gershon                   Company Spokesman                 020 8352 5012/
                                                                    07956 392234


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

End


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