Trading Statement

Fuller,Smith&Turner PLC
27 September 2001

Thursday 27th September 2001

                         Fuller, Smith & Turner P.L.C.

               Proposed Sale of Broadwalks & Trading Update

The Board of Fuller, Smith & Turner P.L.C. ('Fullers') announces that it has
decided to sell its late night bars and Broadwalks. The performance of these
businesses has not met the Group's expectations and the Board believes that
there are other specialist operators better suited to extract value from this
style of format.  Fuller's remains committed to its established target market
but has decided to withdraw from the specialised young persons' niche area in
which Broadwalks and the late bars operate.

In the hotel estate, delayed openings of the Brigstow Hotel in Bristol and the
Chamberlain Hotel in the City have resulted in lost revenues and increased
pre-opening costs.  The outlook for hotels is uncertain, but in common with
other hotel groups, the Board anticipates a softening of demand in the second
half.

Taking into account the above factors together with the uncertain outlook
caused by the change in market conditions resulting from the tragic events of
September 11, the Board feels it prudent to reduce expectations for trading
profits for the full year by approximately £2 million.

Fuller's core operations in Managed and Tenanted Inns, Fine Lines, Hotels and
the Beer Company have performed satisfactorily in the first half.

Anthony Fuller, Chairman, commented:

'Whilst market conditions are challenging, Fullers remains well placed to
strengthen further its market position.  Financially, gearing remains at a
very low level and 87 per cent of the company's estate is freehold.  The
strong balance sheet provides flexibility for us to take advantage of
acquisition opportunities, should suitable situations arise that would
strengthen our core businesses, and to repurchase our shares.  Net asset value
per share as at 31 March 2001 was 610p.

Operationally, the Beer Company has strong brands and consistently outperforms
its markets.  The Hotel Division has a strong and differentiated offer, and
although the current turmoil will have some short-term adverse effects, the
longer-term prospects for our hotels are good.

Finally, the emphasis on quality throughout the company will stand it in good
stead for the future.'

                               -         Ends -
Fuller Smith & Turner P.L.C.
Michael Turner,                          020 8996 2048
Managing Director - Press
Paul Clarke,                             020 8996 2048
Finance Director - Analysts

West LB Panmure                          020 7020 5102
Erik Anderson

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