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Final Transfer of 550 Pubs of Allied Domecq plc

Final Transfer of 550 Pubs of Allied Domecq plc ('Allied Domecq') from Punch Group Limited ('Punch')

Following the transfer from Punch on the 5th October 1999 of the management of the 550 pubs, together with full trading benefit from that date, Bass announces that the final stage of the transfer of the businesses was completed on Friday 3rd December.

Bass acquired from Punch 550 pubs generating profit before central overheads, interest, tax and depreciation of £102 million and profit before central overheads, interest and tax of £87 million in the 52 week period ending 21st August 1999. The acquired pubs business will be operated through Bass' existing management structure and as a result no central management or related overheads were acquired. These pubs had an historic book value in Allied Domecq's accounts of £664 million as at 21st August 1999.

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For further information, please contact:

Pugh Phillips, Director of Group Communication   0171 409 1919
Mark Rigby, Media Relations   0171 409 8571
Jonathan Atack, Investor Relations   0171 409 8153

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