AGM Statement

Young & Co's Brewery PLC
17 July 2001


For immediate release:

17 July 2001

                        YOUNG & CO.'S BREWERY, P.L.C.

                     GUINNESS PEAT RESOLUTION REJECTED


At the Annual General Meeting of Young & Co's Brewery PLC held earlier today,
the special resolution proposed by Guinness Peat, which owns 10% of the voting
shares, was overwhelmingly rejected.

Set out below is an analysis of the voting proxies received by the Company in
respect of the Guinness Peat resolution.


                      For                             Against
Resolution A Shares B Shares  Total     %   A Shares B Shares    Total     %
    9       379,941    -     379,941    8   353,581  4,022,424 4,376,005  92



Commenting on the result, John Young, Chairman of Young's said:



'For the fourth year running, shareholders have resoundingly rejected a
proposal from Guinness Peat, this time with an overwhelming 92% against.
Furthermore, despite Mr Nixon's claim that he speaks for the vast majority of
the non-family shareholders, his proposal was rejected eight to one by the
number of 'A' shareholders voting and, excluding Guinness Peat's own
shareholding, secured the support of less than 2% of the 'A' shares.  I very
much hope that Guinness Peat will take note of the outcome of this vote.'


                                   - Ends -


For further information:


Christopher Sandland, Company Secretary                   020 8875 7000
Young & Co's Brewery, P.L.C.


James Longfield/John Olsen                                020 7357 9477
Hogarth Partnership