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:	05 October 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:	1954	0.00%	0	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:	1954	0.00%	0	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	1735	2.32200 GBP
8 13/24p ordinary	Buy	989	2.33000 GBP
8 13/24p ordinary	Buy	888	2.33700 GBP
8 13/24p ordinary	Buy	2533	2.33800 GBP
8 13/24p ordinary	Buy	2744	2.34000 GBP
8 13/24p ordinary	Buy	1595	2.34100 GBP
8 13/24p ordinary	Buy	6079	2.34200 GBP
8 13/24p ordinary	Buy	1059	2.35000 GBP
8 13/24p ordinary	Buy	805	2.35200 GBP
8 13/24p ordinary	Buy	713	2.35300 GBP
8 13/24p ordinary	Buy	5429	2.35400 GBP
8 13/24p ordinary	Buy	369	2.35700 GBP
8 13/24p ordinary	Buy	1763	2.35800 GBP
8 13/24p ordinary	Buy	3443	2.35900 GBP
8 13/24p ordinary	Buy	550	2.36100 GBP
8 13/24p ordinary	Buy	582	2.36300 GBP
8 13/24p ordinary	Sell	18912	2.31400 GBP
8 13/24p ordinary	Sell	1095	2.33600 GBP
8 13/24p ordinary	Sell	1596	2.33800 GBP
8 13/24p ordinary	Sell	359	2.34300 GBP
8 13/24p ordinary	Sell	552	2.34400 GBP
8 13/24p ordinary	Sell	2474	2.34800 GBP
8 13/24p ordinary	Sell	1577	2.35000 GBP
8 13/24p ordinary	Sell	788	2.35700 GBP
8 13/24p ordinary	Sell	1763	2.35900 GBP
8 13/24p ordinary	Sell	1902	2.36300 GBP
	TOTAL BUY :	31276
	TOTAL SALE :	31018

(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?

	06 October 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.