Trading Statement-Replacement

RNS Number:4208Y
Big Food Group PLC
10 July 2002


The following alteration should be made to the Big Food Group PLC - Trading 
Statement announcement released today at 7:00am under RNS No 4154Y. 

The table under the heading 'Sales' should show 'Adjusted for Easter' above the
right hand column only.

All other details remain unchanged.

The full corrected version is shown below.


                                                                    10 July 2002


                            THE BIG FOOD GROUP plc

                      First Quarter Trading Statement


Following the completion of the Company's refinancing on 18 June and in line
with best practice, the Company will issue quarterly trading statements shortly
after the end of each thirteen-week period which will incorporate current
trading updates.  The Preliminary and Interim Results Announcements will contain
full financials on the relevant financial period, but will not include any
additional updates on current trading.

The Company announces today its first quarter trading statement of the 2002/2003
reporting year in respect of the thirteen weeks to 28 June 2002.


Sales

The sales growth in our wholesale businesses (Booker and Woodward) continue to
show improvement.  As previously reported, the Iceland comparatives were
affected by additional promotional activity introduced on 20 May 2001 and
volatility will continue to be a feature of short-term sales comparisons whilst
the strategic initiatives are implemented.

Like for like sales for the 13 weeks to 28 June 2002 were as follows:


                                                             Adjusted for Easter

Group                                        -0.9%                  0.0%

Booker                                        0.9%                  1.3%
-         tobacco                            -0.3%                  0.0%
-         non tobacco                         1.8%                  2.4%

Woodward                                      9.5%                 10.6%

Iceland Foods                                -5.8%                 -3.5%


Net Debt

All aspects of the refinancing were completed on 18 June 2002, comprising a new
senior debt facility of £300 million, a 9.75% high yield bond of £150 million
and a sale and lease back of 31 properties for £129 million.  This provides the
Company with the necessary financial resources to pursue its strategic plans.

As a result of the reduction in net debt arising from the sale and lease back,
the average net debt figures are given for the period to 17 June 2002 and for
the period from 18 June 2002.

                                                               Average net debt
                                                                  £ Million

Period 30 March to 17 June                                           377
Period 18 June to 28 June                                            224


Strategic Initiatives

(i)    New Iceland Formats

       Trading at the new format stores continues to be encouraging confirming
       management's view that these strategic initiatives are delivering a step 
       change in performance as planned.

       Like for like sales at the original four new format stores are achieving 
       average uplifts of 17.8% to 28 June with particularly strong results 
       being achieved from the Core Plus and Core formats as anticipated.

       Three more new stores are now trading to one of our new segmented formats 
       at Cardiff (re-fit), Leicester (new store) and Bath (consolidation).

(ii)   Booker Delivered Wholesale

       The number of Premier fascia retailers increased from 705 to 751 during 
       the quarter.  Booker also completed its plans for drop shipments direct 
       from suppliers to customers which will be operational later in the year.  
       Delivered wholesale represents a key source of sales growth for Booker.

(iii)  E-business capabilities

       Contracts for the purchase of certain commodity products have now been 
       carried out through e-auctions which have simplified the negotiating 
       process and delivered improvements to buying prices.

Pension Scheme

The Company has received notice that it may face legal action over the pension
scheme changes to be introduced from 1 August 2002.  The Company believes that
such action would be unsupported by existing law or precedent and is firmly of
the view and has been advised that it has acted properly in a manner consistent
with the fundamental economic issues.

As a result of further falls in equity markets, the latest estimate of the
funding position of the defined benefit scheme at 30 June 2002 shows a deficit
of approximately £110 million.

This will not effect the cash outlay by the Company in the short term as
contributions of £7 million per annum have been agreed with the trustees based
on the deficit of £65 million at 31 December 2001 and will continue until the
next actuarial valuation in 2004.

Enquiries:

The Big Food Group
Bill Grimsey - Chief Executive                    01933 371000
Bill Hoskins - Finance Director

Hudson Sandler
Michael Sandler                                   020 7796 4133
Andrew Hayes
Noemie de Andia


                      This information is provided by RNS
            The company news service from the London Stock Exchange
Big Food Grp. (LSE:BFP)
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