Form 8.5 (EPT/NON-RI)

FORM 8.5 (EPT/NON-RI)

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY AN

EXEMPT PRINCIPAL TRADER WITHOUT RECOGNISED INTERMEDIARY ("RI") STATUS (OR WHERE RI STATUS IS NOT APPLICABLE)

Rule 8.5 of the Takeover Code (the "Code")

1. KEY INFORMATION

(a) Name of exempt principal trader:	UBS AG London Branch
	Mitchells and Butlers Plc
(c) Name of the party to the offer with which exempt principal trader is connected:	Mitchells and Butlers Plc
(d) Date position held/dealing undertaken:	13 September 2011
(e) Has the EPT previously disclosed, or is it today disclosing, under the Code in respect of any other party to this offer?	NO

2. POSITIONS OF THE EXEMPT PRINCIPAL TRADER

(a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

Class of relevant security:
	Interests	Short positions
Number	%	Number	%
(1) Relevant securities owned and/or controlled:	0	0.00%	12547	0.00%
(2) Derivatives (other than options):	0	0.00%	0	0.00%
(3) Options and agreements to purchase/sell:	0	0.00%	0	0.00%
TOTAL:	0	0.00%	12547	0.00%

All interests and all short positions should be disclosed.

Details of any open derivative or option positions, or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

(b) Rights to subscribe for new securities (including directors' and other executive options)

Class of relevant security in relation to which subscription right exists:
Details, including nature of the rights concerned and relevant percentages:

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

3. DEALINGS (IF ANY) BY THE EXEMPT PRINCIPAL TRADER

(a) Purchases and sales

Class of relevant security	Purchase/sale	Number of securities	Price per unit
8 13/24p ordinary	Buy	14414	2.35200 GBP
8 13/24p ordinary	Buy	6722	2.35400 GBP
8 13/24p ordinary	Buy	541	2.37800 GBP
8 13/24p ordinary	Buy	15000	2.38000 GBP
8 13/24p ordinary	Buy	1274	2.38600 GBP
8 13/24p ordinary	Buy	1979	2.39500 GBP
8 13/24p ordinary	Buy	1732	2.39750 GBP
8 13/24p ordinary	Buy	2167	2.40100 GBP
8 13/24p ordinary	Buy	66	2.40600 GBP
8 13/24p ordinary	Buy	1743	2.40800 GBP
8 13/24p ordinary	Buy	73	2.40850 GBP
8 13/24p ordinary	Buy	491	2.40900 GBP
8 13/24p ordinary	Buy	4259	2.41000 GBP
8 13/24p ordinary	Buy	5970	2.41200 GBP
8 13/24p ordinary	Buy	1340	2.41300 GBP
8 13/24p ordinary	Buy	633	2.41400 GBP
8 13/24p ordinary	Buy	1027	2.41500 GBP
8 13/24p ordinary	Buy	1576	2.42500 GBP
8 13/24p ordinary	Buy	1740	2.43400 GBP
8 13/24p ordinary	Buy	2233	2.43500 GBP
8 13/24p ordinary	Buy	4645	2.43800 GBP
8 13/24p ordinary	Buy	5135	2.43900 GBP
8 13/24p ordinary	Buy	7712	2.44000 GBP
8 13/24p ordinary	Buy	1926	2.44300 GBP
8 13/24p ordinary	Buy	4325	2.44400 GBP
8 13/24p ordinary	Buy	3605	2.44500 GBP
8 13/24p ordinary	Buy	5035	2.44700 GBP
8 13/24p ordinary	Buy	700	2.44800 GBP
8 13/24p ordinary	Buy	1909	2.44900 GBP
8 13/24p ordinary	Buy	21462	2.45000 GBP
8 13/24p ordinary	Buy	1810	2.45200 GBP
8 13/24p ordinary	Buy	3106	2.45300 GBP
8 13/24p ordinary	Buy	6082	2.45400 GBP
8 13/24p ordinary	Buy	363	2.45800 GBP
8 13/24p ordinary	Buy	378	2.45900 GBP
8 13/24p ordinary	Buy	8075	2.46000 GBP
8 13/24p ordinary	Buy	920	2.46300 GBP
8 13/24p ordinary	Buy	2071	2.46800 GBP
8 13/24p ordinary	Buy	3834	2.47700 GBP
8 13/24p ordinary	Buy	482	2.49000 GBP
8 13/24p ordinary	Buy	2612	2.49700 GBP
8 13/24p ordinary	Buy	24596	2.51000 GBP
8 13/24p ordinary	Sell	3713	2.35400 GBP
8 13/24p ordinary	Sell	4950	2.35600 GBP
8 13/24p ordinary	Sell	10000	2.36600 GBP
8 13/24p ordinary	Sell	2130	2.36900 GBP
8 13/24p ordinary	Sell	8018	2.37000 GBP
8 13/24p ordinary	Sell	361	2.37400 GBP
8 13/24p ordinary	Sell	1548	2.37650 GBP
8 13/24p ordinary	Sell	2059	2.38000 GBP
8 13/24p ordinary	Sell	1274	2.38700 GBP
8 13/24p ordinary	Sell	1048	2.39500 GBP
8 13/24p ordinary	Sell	1745	2.39600 GBP
8 13/24p ordinary	Sell	534	2.39700 GBP
8 13/24p ordinary	Sell	1732	2.39750 GBP
8 13/24p ordinary	Sell	15963	2.40000 GBP
8 13/24p ordinary	Sell	5753	2.40100 GBP
8 13/24p ordinary	Sell	2388	2.40200 GBP
8 13/24p ordinary	Sell	758	2.40300 GBP
8 13/24p ordinary	Sell	1590	2.40350 GBP
8 13/24p ordinary	Sell	4317	2.40400 GBP
8 13/24p ordinary	Sell	2951	2.40500 GBP
8 13/24p ordinary	Sell	3164	2.40600 GBP
8 13/24p ordinary	Sell	11215	2.40800 GBP
8 13/24p ordinary	Sell	73	2.40850 GBP
8 13/24p ordinary	Sell	257	2.40900 GBP
8 13/24p ordinary	Sell	4259	2.41100 GBP
8 13/24p ordinary	Sell	2138	2.41400 GBP
8 13/24p ordinary	Sell	881	2.41600 GBP
8 13/24p ordinary	Sell	610	2.41700 GBP
8 13/24p ordinary	Sell	1576	2.42600 GBP
8 13/24p ordinary	Sell	1431	2.42700 GBP
8 13/24p ordinary	Sell	1824	2.43000 GBP
8 13/24p ordinary	Sell	319	2.43950 GBP
8 13/24p ordinary	Sell	10528	2.44000 GBP
8 13/24p ordinary	Sell	8567	2.44100 GBP
8 13/24p ordinary	Sell	918	2.44200 GBP
8 13/24p ordinary	Sell	630	2.44300 GBP
8 13/24p ordinary	Sell	5911	2.44400 GBP
8 13/24p ordinary	Sell	17476	2.44500 GBP
8 13/24p ordinary	Sell	4944	2.44600 GBP
8 13/24p ordinary	Sell	2931	2.44800 GBP
8 13/24p ordinary	Sell	6730	2.45000 GBP
8 13/24p ordinary	Sell	3360	2.45100 GBP
8 13/24p ordinary	Sell	4160	2.45200 GBP
8 13/24p ordinary	Sell	2214	2.45300 GBP
8 13/24p ordinary	Sell	4344	2.45400 GBP
8 13/24p ordinary	Sell	7089	2.45600 GBP
8 13/24p ordinary	Sell	2002	2.45900 GBP
8 13/24p ordinary	Sell	1586	2.46000 GBP
8 13/24p ordinary	Sell	23	2.46050 GBP
8 13/24p ordinary	Sell	4823	2.46700 GBP
8 13/24p ordinary	Sell	1771	2.47000 GBP
8 13/24p ordinary	Sell	3762	2.47800 GBP
8 13/24p ordinary	Sell	1463	2.49250 GBP
8 13/24p ordinary	Sell	635	2.49900 GBP
	TOTAL BUY :	175763
	TOTAL SALE :	196446

(b) Derivatives transactions (other than options)

Class of relevant security			Number of reference securities	Price per unit

(i) Writing, selling, purchasing or varying

Class of relevant security	Product description e.g. call option	Writing, purchasing, selling, varying etc.	Number of securities to which option relates	Exercise price per unit		Expiry date	Option money paid/ received per unit

(ii) Exercising

Class of relevant security		Number of securities	Exercise price per unit

(d) Other dealings (including subscribing for new securities)

Class of relevant security		Details	Price per unit (if applicable)

The currency of all prices and other monetary amounts should be stated.

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

4. OTHER INFORMATION

(a) Indemnity and other dealing arrangements

None

(b) Agreements, arrangements or understandings relating to options or derivatives

None

Is a Supplemental Form 8 (Open Positions) attached?

	14 September 2011
	Gemma Crewdson
	+44 (0)20 7568 1245

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service and must also be emailed to the Takeover Panel at [email protected]. The Panel's Market Surveillance Unit is available for consultation in relation to the Code's dealing disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.