Trading Update

Bunzl PLC
25 June 2003


                                                                    25 June 2003


              BUNZL PRE CLOSE STATEMENT AHEAD OF ANALYST MEETINGS


Bunzl plc, the international distribution and outsourcing Group, will be
speaking to analysts today prior to the close period for the six months to 
30 June 2003. The Company will be indicating that:

• Overall trading is expected to be in line with market estimates which
  take account of the impact of currency translation and the mildly dilutive
  effect of the sale of Paper Distribution in July 2002.

• Outsourcing Services continues to progress well. Robust volume growth has been
  maintained and many price increases, particularly in the US in March and April,
  have held reflecting sustained higher input prices to some of our suppliers.
  Although these increases are having a limited impact in the first half, they 
  should reduce year on year price deflation as the year progresses.

• Filtrona is also progressing satisfactorily. Sales in both the tobacco and 
  non-tobacco related parts of the business have grown while the anticipated
  cost savings as a result of the reorganisation in August 2002 have been
  realised.

Economic conditions in both North America and Europe remain uncertain and the
persistence of the current level of the dollar is having a translation impact
compared to 2002. Nevertheless the Group remains well positioned to progress
satisfactorily at constant exchange rates as it continues to grow both
organically and by acquisition in its chosen areas of focus.


The results for the six months to 30 June 2003 will be published on 26 August 2003.


Enquiries:

Bunzl plc:                                        Finsbury:
Anthony Habgood, Chairman                         Roland Rudd
David Williams, Finance Director                  Morgan Bone
Tel: [phone]                                Tel: [phone]












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