Trading Statement

Fuller,Smith&Turner PLC
20 July 2000



Extract from the Chairman's statement made at the Annual
General Meeting held today, 20 July 2000.

'Since the beginning of our financial year in April, we have
purchased a former office building at 130-135 Minories, EC3,
in  the  City  of  London.  Fuller's will be investing  £9.8
million  in  this property to create an exciting  64-bedroom
hotel  with a large branded Ale and Pie pub situated on  the
ground  floor.  The hotel and pub are scheduled to  open  in
September 2001.

This  forms part of a £20 million investment over  the  next
two  years  in the proven formula of the English Inns  hotel
brand.  All the investments will be freehold and the funding
will  be provided by the £8.05 million cash raised from  the
sale  of  the  Fuller's wine shops and stock,  the  sale  of
various wine shop freeholds for a total of £5.2 million  and
the  sale of the Master Robert Hotel for £6.7 million.  This
is part of the Company's strategy to invest further into its
existing and successful hotel estate.  It will take place in
parallel  with  the  existing investment  programme  in  the
traditional pubs and bars along with the ongoing  investment
in the Beer Company.

This  acquisition  forms part of the company's  strategy  to
focus  our management and cash resources on those  areas  of
the  business  that offer a promising future.   Our  English
Inns  hotels  target a niche market catering to an  affluent
client base offering good value, atmosphere and comfort with
an extensive food and beverage operation.

We  have  recently opened our fifth Broadwalk bar in Swindon
in  May  and we are due to open the sixth in Sevenoaks  this
Autumn.  We have also opened two traditional managed  houses
in  Barnet  and  Chesham and acquired a  tenanted  pub  near
Oxford and another in Chippenham.

The  poor weather since April has been a mixed blessing  for
the  group.  In Fuller's Beer Company, own beer volumes  are
up  5%  and total beer volumes up 4%.  For Fullers Inns  the
effect  has  been that like for like takings are level,  but
cost pressures remain.

In  summary,  we anticipate that the out-turn for  the  full
year will be in line with our expectations.'

For further information please contact:

A G F Fuller CBE
Chairman

Michael Turner
Managing Director

Paul Clarke
Finance Director

020 8996 2000