Cancellation of Pref Shares

Young & Co's Brewery PLC
06 February 2003

6 February 2003



Young & Co.'s Brewery, P.L.C.

Cancellation and repayment of Preference Shares

Young & Co.'s Brewery, P.L.C. ('the Company') today announces that the
cancellation and repayment of the 6% Cumulative Preference Stock and 9%
Cumulative Preference Shares ('the Preference Shares'), approved by shareholders
at class meetings and an EGM on 17 December 2002, were approved by the Court on
5 February 2003. The Court Order was registered earlier today at Companies
House.


As indicated in the Company's Circular dated 18th November 2002, the registers
of the Preference Shares will close at 4.30pm today. A repayment cheque and an
accrued dividend cheque or, for those holders whose dividend payment is
mandated, a BACS voucher will be posted on 17 February 2003 to all holders
registered on 6 February 2003. The Listing of the Preference Shares on the
Official List will be cancelled at close of business on 6 February 2003.






For further information:

Peter Whitehead, Finance Director               020 8875 7000

Young & Co.'s Brewery, P.L.C.

James Longfield/Chelsea Hayes                    020 7357 9477

Hogarth Partnership


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