RNS Number:9061I
Gowrings PLC
19 March 2003

                                                                   19 March 2003

                                  Gowrings PLC

                         ("Gowrings" or the "Company")

                               Trading statement

During July and August 2002, Gowrings disposed of the majority of its motor
division through the sale of its Wokingham, Bracknell and Newbury Ford
dealerships and the Newbury body repair centre.  Under the terms of these
disposals, Gowrings retained responsibility for collection of debtors and
settling of creditor balances relating to the trading of these businesses up
until the time of their disposal.

The Board subsequently has become aware of accounting irregularities which have
resulted in there being doubt as to the recoverability of a number of the
retained balances.  The initial estimate of the amounts under investigation is
#1.6 million before tax (#1.1 million after tax). Initial indications are that
the majority of this would be treated as a prior year item.

An investigation into the accounting irregularities has been launched by the
Board.  In addition to the auditors, external advisers have been appointed to
assist the Board in this investigation.

The Board emphasises that the accounting irregularities relate exclusively to
the motor businesses which were sold last year and that the existing cash
position of the Company and the underlying cash flows from its retained
businesses are unaffected.

The preliminary announcement of the results of the year ending 31 December 2002
will be delayed until at least the middle of April 2003.

In addition, the Board estimates that #0.4 million of costs in excess of those
previously expected were incurred in relation to the motor businesses sold
during the year ended 31 December 2002.

The Company's core Burger King franchise business is starting to recover from a
very difficult year in 2002 and the Board is pleased to report that
like-for-like sales in the first 11 weeks of the current financial year are 7.5%
ahead of the comparable period last year.

The Board will issue a further statement as soon as the conclusions of the
investigation are known.


Gowrings PLC                                                   01635 866 055

Derek Coulson, Chairman and Chief Executive
David Gray, Finance Director

Beattie Financial                                              020 7398 3300
Brian Coleman-Smith
Amanda Sheehy

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