GoldmanSachs International 05 February 2008 FORM 38.5(b) DEALINGS BY CONNECTED EXEMPT PRINCIPAL TRADERS WITHOUT RECOGNISED INTERMEDIARY STATUS, OR WITH RI STATUS BUT NOT DEALING IN A CLIENT-SERVING CAPACITY (Rule 38.5(b) of the Takeover Code) 1. KEY INFORMATION Name of person dealing (Note 1) Goldman Sachs International Company dealt in MITCHELLS & BUTLERS PLC Class of relevant security to which the Ordinary Shares dealings being disclosed relate (Note 1) Date of dealing 04 February 2008 2. INTERESTS, SHORT POSITIONS AND RIGHTS TO SUBSCRIBE (a) Interests and short positions (following dealing) in the class of relevant security dealt in (Note 2) Long Short Number Number (%) (%) (1) Relevant securities 0 0 (0.00%) (0.00%) (2) Derivatives (other than options) (3) Options and agreements to purchase/sell Total 0 0 (0.00%) (0.00%) (b) Interests and short positions in relevant securities of the company, other than the class dealt in (Note 2) Class of relevant security: Long Short Number Number (%) (%) (1) Relevant securities (1) Relevant securities (2) Derivatives (other than options) (3) Options and agreements to purchase/sell Total (c) Rights to subscribe (Note 2) Class of relevant security: Details 3. DEALINGS (Note 3) (a) Purchases and sales Purchase/sale Price per unit (Note 4) Sale 2891 4.71 GBP Sale 63460 4.70 GBP Sale 200 4.70 GBP Sale 50000 4.72 Sale 116881 4.74 Total Sale 233432 Purchase 63460 4.70 GBP Purchase 200 4.68 GBP Purchase 200 4.70 GBP Purchase 58651 4.75 GBP Purchase 175691 4.66 GBP Purchase 2891 4.71 GBP Total Purchase 301093 (b) Derivatives transactions (other than options) Product name, Long/short (Note 5) Number of securities (Note 6) Price per unit (Note 4) e.g. CFD (c) Options transactions in respect of existing securities (i) Writing, selling, purchasing or varying Product name, Writing, selling, Number of securities Exercise Type, e.g. Expiry Option money purchasing, to which the option American, e.g. call option varying etc. relates (Note 6) price European etc. date paid/received per unit (Note 4) (ii) Exercising Product name, e.g. call option Number of securities Exercise price per unit (Note 4) (d) Other dealings (including new securities) (Note 3) Nature of transaction (Note 7) Details Price per unit (if applicable) 4. OTHER INFORMATION Agreements, arrangements or understandings relating to options or derivatives Full details of any agreement, arrangement or understanding between the person disclosing and any other person relating to the voting rights of any relevant securities under any option referred to on this form or relating to the voting rights or future acquisition or disposal of any relevant securities to which any derivative referred to on this form is referenced. If none, this should be stated. None Is a Supplemental Form 38.5(b) attached? (Note 8) NO Date of disclosure 05 February 2008 Contact name Peter Highton Telephone number +44-207-774-1935 Name of offeree/offeror with which connected PUNCH TAVERNS PLC Nature of connection (Note 9) Advisor Notes The Notes on Form 38.5(b) can be viewed on the Takeover Panel's website at www.thetakeoverpanel.org.uk This information is provided by RNS The company news service from the London Stock Exchange