Enterprise pulls out of Scotland

November 21, 2006: Enterprise Inns has agreed to sell its entire Scottish estate of 137 pubs to Retail & Licensed Properties Ltd for £115 million.

The announcement came as Enterprise revealed pre-tax profits up 8.6% in the year to September 2006.

"Whilst many of these pubs matched our normal retention criteria, this
was a strategic sale reflecting our lack of critical mass in Scotland, a market
that has many different characteristics to England and Wales and one where the leased and tenanted concept is not so well established," said a spokesperson for the group.

Commenting on the results, Enterprise chief executive Ted Tuppen said: "This has been another excellent year for the Enterprise Inns team, working
together with our licensees to improve the quality and profitability of our pubs
and once again delivering substantial growth in shareholder value.

"The new financial year has started well and we look forward to another year of solid progress."