Syndicated Bnk Facilities

WETHERSPOON (JD) PLC
1 October 1999

                              
                     J D Wetherspoon plc

Renegotiation of £225mn Unsecured Syndicated Bank Facilities
and Private Placement of US$140mn Senior Unsecured Notes

J D Wetherspoon plc announces that it has successfully
concluded the renegotiation of its £225mn syndicated bank
facilities and, in addition, raised an additional US$140mn
through issuance in the US private placement market of 10
year unsecured Senior Notes due 2009.  The proceeds of
issuance of the US$140mn Notes have been swapped into
sterling to provide funds at an attractive margin above
sterling LIBOR.

After refinancing net borrowings, which was £125mn as at the
Company's 1 August 1999 year end, all of the funding  will
be available to finance the acquisition, development and
opening of additional pubs.

Dresdner Kleinwort Benson advised J D Wetherspoon on
renegotiation of its £225mn syndicated bank facilities,
which were led by The Royal Bank of Scotland and National
Westminster Bank and provided in addition by Bank of
Scotland, Clydesdale and Scotiabank Europe.  The facilities
are unsecured and split into a £125mn 7 year term loan
facility and a £100mn 5 year revolving loan facility. In
addition, Dresdner Kleinwort Benson acted as sole agent for
the private placement of the US$140mn Notes and arranged the
swap of the proceeds into floating rate sterling funding.

Commenting on the financing, Tim Martin, the Chairman of J D
Wetherspoon, said 'these financings have allowed us to
expand our sources of debt finance at attractive rates and
ensure that J D Wetherspoon has the finance in place to
continue to expand and develop its pub estate as planned.'


Enquiries:

Tim Martin     Chairman, JD Wetherspoon plc          01923 477777
Jim Clarke     Finance Director, JD                  01923 477777
               Wetherspoon plc
David Treacher Director, Dresdner Kleinwort          0171 623 8000
               Benson