Trading Statement

Marston's PLC
28 March 2007

                                                                   28 March 2007

                                  Marston's PLC

                          Pre-close Trading Statement

In accordance with its usual practice, the Board of Marston's PLC issues the
following trading update prior to the end of the first half of the current
financial year on 31 March 2007.

Trading

Trading overall in the 24 weeks to 17 March 2007 has been satisfactory and in
line with expectations.

In Marston's Inns & Taverns, our managed pub division, like-for-like sales were
7.0 % ahead of last year in the 24 weeks to 17 March 2007, including
like-for-like food sales growth of 13.9 %.

In Marston's Pub Company, our tenanted and leased pub division, trading has been
satisfactory with continued growth in average profit per pub compared to last
year.

Total beer volumes remain below last year in Marston's Beer Company, although
premium ale volumes and market share have increased. Marketing investment in
premium ale, particularly Marston's Pedigree, has been increased through
sponsorship of the England and Wales Cricket Board (the 'ECB') and, more
recently, becoming the principal sponsor of Sky Sports televised coverage of the
Cricket World Cup.

Underlying margins have been in line with expectations and costs well
controlled, notwithstanding significantly higher energy costs and the 5.9%
increase in the minimum wage from October 2006.

The Eldridge Pope estate ('Eldridge Pope')

Eldridge Pope was acquired on 25 January 2007 for £155.1 million. Performance
since acquisition has been strong and in line with expectations. Like-for-like
sales growth in the 95 managed pubs in the 24 weeks to 17 March 2007 was similar
to that achieved in Marston's Inns and Taverns.

As expected, the trading profit contribution from Eldridge Pope to our half-year
results will be modest due to seasonality and the fact that, as planned,
synergies of approximately £4.6 million per annum will start to be realised from
April 2007. The integration of Eldridge Pope is well advanced, with full systems
integration anticipated from 31 March 2007.

The acquisition of Eldridge Pope is expected to be earnings enhancing in the
first full financial year following the acquisition, and broadly earnings
neutral in the current financial year.

Estate development

In the first half-year, Marston's Inns and Taverns has opened 7 new managed
pubs: in Brighton, London, Hertfordshire, Cheshire, Nuneaton, Bristol and
Exeter. We expect to open around 20 new sites or acquired managed pubs this
year. Our new build programme continues to offer attractive growth opportunities
and returns.

Marston's Pub Company has acquired 42 tenanted or leased pubs to date, including
the acquisition of Sovereign Inns, an estate of 33 freehold pubs across the
Midlands, for £19.4 million on 16 January 2007. Our first 'new-build' tenanted
pub in Devizes, Wiltshire is expected to open in the second half-year.

Share buy-backs and financing

On announcing the acquisition of Eldridge Pope we confirmed our intention to
return around £100 million to shareholders this financial year, subject to
retaining the flexibility to make further acquisitions should suitable
opportunities arise. Accordingly, during February and March 2007 we purchased
and placed in treasury 9.1 million shares at a total cost of £40.2 million.

New bank facilities of £500 million have been put in place to finance the
acquisition of Eldridge Pope, to provide funds for the return of capital to
shareholders, and to refinance an existing £275 million facility.

The share buy-back programme will be earnings enhancing this year and thereafter
reflecting the more efficient balance sheet structure. The impact on interest
costs of funding the share purchase programme and the acquisition of Eldridge
Pope will be approximately £2 million in the first half-year. Therefore, we
expect earnings per share for the first six months to be ahead of last year with
profit before tax and exceptional items in line with the prior year period.

Outlook

The impact of the smoking ban in Wales from April 2007 and in England from July
2007 is uncertain, but our investment plans are very well advanced. Over 90% of
our pubs have gardens, patios or some form of outside trading area, and we have
made excellent progress in developing our food offers in Marston's Inns and
Taverns. Food sales now make up 33% of total retail sales within our managed
pubs. The high quality of our estate and operational approach is enabling us to
deliver good growth in today's trading environment.

Our integrated business model provides us with wider investment opportunities
and increased operational flexibility. The Board remains confident that our
strong balance sheet, relatively conservative financing and strong cash flow
will allow us to continue to target further investments meeting our return on
capital criteria.


ENQUIRIES:

Marston's PLC                                                     Hudson Sandler

Ralph Findlay, Chief Executive                                      Andrew Hayes
Paul Inglett, Finance Director                                         Nick Lyon
Tel: [phone]                                                    James White
                                                              Tel: [phone]



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