Capital Pub Company PLC

("Capital Pub Company" or "the Company")

Acquisition of The Wishing Well, London SE15

Capital Pub Company, the owner and operator of a high quality portfolio of managed pubs in Greater London, is pleased to announce it has exchanged contracts for the acquisition of The Wishing Well, Choumert Road, London SE15 for £880,000 in cash. The pub is being bought out of administration and is funded from the Company's existing cash reserves.

The Wishing Well is a freehold pub in the popular residential area between Peckham Rye and East Dulwich.  The property comprises a 2,000 square foot trading area, an outside drinking area and 17 letting bedrooms. It is close to the Company's existing pubs in the area, the Florence and the Bishop. 

Completion will take place in November and the pub will close for a major refurbishment after Christmas, reopening in February 2010. The style of the refurbished pub will be in line with the Company's successful strategy of running high quality, liquor-led pubs to suit the local community. Management anticipate the pub will contribute to group profits immediately following the refurbishment.

This acquisition extends Capital Pub Company's portfolio up to 26 pubs in London. Trading remains in line with expectations and the Company continues to seek further acquisition opportunities that fit within its criteria.

16 October 2009

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