PNB Pubs'n'bars

RNS Number:0899P
Pubs 'n' Bars PLC
29 February 2008


                               Pubs 'n' Bars plc

                       ("Pubs 'n' Bars" or "the Company")

                          Change in Accounting Policy

Pubs 'n' Bars Plc (AIM:PNB), the pub owner and operator, announces that
following a review of its policies pursuant to the introduction of International
Financial Reporting Standards, and in particular the International Accounting
Standard 16, the Company is required to change the accounting treatment of
revaluing assets. Specifically, the Company will continue to revalue its
properties annually but any diminution, below cost, in the value of leasehold
properties will now be charged to the  Income Statement  rather than directly to
the Revaluation Reserve as per the Company's previous accounting policy.  As a
result the comparative financial statements for the financial year ended 31
December 2006, will be restated in the results for the financial year ended 31
December 2007, and will be different to the restatement presented in the interim
accounts.

The Directors, having been advised by their auditors, believe that the effect of
these changes for the year ended 31 December 2006 will be a charge before
taxation to the Income Statement of �1,116,575. This charge will result in a
transfer from the retained earnings to the revaluation reserve and as a result,
the net assets of the group will not change.  The effect for the year ended 31
December 2007, is not known as the property estate has yet to be re-valued which
will be conducted on or around  April 2008 in accordance with the Company's
usual policy. However, the Directors estimate that there will be a charge to the
Income Statement of approximately �650,000. This charge does not affect the
Company's underlying operating model or working capital requirements. The
Directors are also of the opinion that the Company will continue to
maintain distributable reserves. There is no change to the half-year results
announced on 20 September 2007.


Enquiries to:

Pubs 'n' Bars plc
Mel Belligero, Chief Executive  Tel: + 44 (0) 20 8228 4800

Daniel Stewart & Company plc
Paul Shackleton/ Stewart Dick   Tel: + 44 (0) 20 7776 6550




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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