Issue of Notice

Whitbread PLC
18 December 2000



Whitbread proposes early repayment of Irredeemable Unsecured Loan Stock

Whitbread PLC announces that it has today issued a notice to holders of its £
1,264,449 53/4 per cent. Irredeemable Unsecured Loan Stock convening a meeting
of stockholders on 10 January 2001 to consider a proposal for the early
repayment of the entire issue on 31 January 2001.

The proposal envisages repayment of the Stock at a price of 125.651 pence for
every 100 pence nominal amount of Stock. This price has been calculated to be
the price at which the gross redemption yield of the Stock is equal to the
gross redemption yield of 31/2 per cent. War Loan prevailing at the close of
business on 15 December 2000.



End