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:	16 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%	15345	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%	15345	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	2500	2.59000 GBP
8 13/24p ordinary	Buy	4048	2.59300 GBP
8 13/24p ordinary	Buy	1320	2.59400 GBP
8 13/24p ordinary	Buy	1200	2.60000 GBP
8 13/24p ordinary	Buy	10392	2.60400 GBP
8 13/24p ordinary	Buy	2096	2.61100 GBP
8 13/24p ordinary	Buy	544	2.61400 GBP
8 13/24p ordinary	Buy	472	2.62100 GBP
8 13/24p ordinary	Buy	722	2.62200 GBP
8 13/24p ordinary	Buy	282	2.62600 GBP
8 13/24p ordinary	Buy	1040	2.62700 GBP
8 13/24p ordinary	Buy	610	2.63000 GBP
8 13/24p ordinary	Buy	2870	2.63300 GBP
8 13/24p ordinary	Buy	1085	2.63700 GBP
8 13/24p ordinary	Buy	2152	2.63800 GBP
8 13/24p ordinary	Buy	2447	2.64100 GBP
8 13/24p ordinary	Buy	957	2.64500 GBP
8 13/24p ordinary	Buy	3196	2.64600 GBP
8 13/24p ordinary	Buy	1778	2.64700 GBP
8 13/24p ordinary	Buy	2864	2.64800 GBP
8 13/24p ordinary	Buy	5092	2.64900 GBP
8 13/24p ordinary	Buy	5428	2.65000 GBP
8 13/24p ordinary	Buy	6756	2.65100 GBP
8 13/24p ordinary	Buy	645	2.65200 GBP
8 13/24p ordinary	Buy	273	2.65700 GBP
8 13/24p ordinary	Buy	586	2.66200 GBP
8 13/24p ordinary	Buy	713	2.66800 GBP
8 13/24p ordinary	Buy	4588	2.68900 GBP
8 13/24p ordinary	Buy	1097	2.69500 GBP
8 13/24p ordinary	Buy	1509	2.70100 GBP
8 13/24p ordinary	Sell	1320	2.59400 GBP
8 13/24p ordinary	Sell	1358	2.59500 GBP
8 13/24p ordinary	Sell	1300	2.59600 GBP
8 13/24p ordinary	Sell	3363	2.59700 GBP
8 13/24p ordinary	Sell	1990	2.59800 GBP
8 13/24p ordinary	Sell	7170	2.60000 GBP
8 13/24p ordinary	Sell	601	2.61000 GBP
8 13/24p ordinary	Sell	746	2.61200 GBP
8 13/24p ordinary	Sell	544	2.61500 GBP
8 13/24p ordinary	Sell	1759	2.62000 GBP
8 13/24p ordinary	Sell	92	2.62700 GBP
8 13/24p ordinary	Sell	431	2.62800 GBP
8 13/24p ordinary	Sell	610	2.63200 GBP
8 13/24p ordinary	Sell	2041	2.63900 GBP
8 13/24p ordinary	Sell	13854	2.64000 GBP
8 13/24p ordinary	Sell	820	2.64100 GBP
8 13/24p ordinary	Sell	2812	2.64300 GBP
8 13/24p ordinary	Sell	1274	2.64400 GBP
8 13/24p ordinary	Sell	108	2.64500 GBP
8 13/24p ordinary	Sell	4371	2.64600 GBP
8 13/24p ordinary	Sell	402	2.64700 GBP
8 13/24p ordinary	Sell	6868	2.64800 GBP
8 13/24p ordinary	Sell	6084	2.65000 GBP
8 13/24p ordinary	Sell	1771	2.65100 GBP
8 13/24p ordinary	Sell	1439	2.65300 GBP
8 13/24p ordinary	Sell	670	2.66300 GBP
8 13/24p ordinary	Sell	713	2.66900 GBP
8 13/24p ordinary	Sell	4256	2.69000 GBP
8 13/24p ordinary	Sell	1097	2.69600 GBP
	TOTAL BUY :	69262
	TOTAL SALE :	69864

(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?

	19 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.