Morgan Stanley Securities Ld(EPT) 07 February 2008 DEALINGS BY CONNECTED EXEMPT PRINCIPAL TRADERS WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY (Rule 38.5(a) of the Takeover Code) 1. KEY INFORMATION Name of exempt principal trader Morgan Stanley Securities Limited Company dealt in Mitchells & Butlers Plc Class of relevant security to which the Ordinary Shares dealings being disclosed relate (Note 1) Date of dealing 06 February 2008 2. DEALINGS (Note 2) (a) Purchases and sales Total number of securities purchased Highest price paid (Note 3) GBP Lowest price paid (Note 3) GBP 1,803,360 4.7625 4.5250 Total number of securities sold Highest price received (Note 3) GBP Lowest price received (Note 3) GBP 388,376 4.7675 4.5200 (b) Derivatives transactions (other than options) Product name, Long/short (Note 4) Number of securities (Note 5) Price per unit (Note 3) GBP e.g. CFD CFD LONG 9,764 4.7182 CFD LONG 9,764 4.7300 CFD LONG 111 4.7314 CFD SHORT 995 4.7314 CFD LONG 2,000 4.5457 CFD LONG 956 4.5576 CFD LONG 1,931 4.5576 CFD LONG 849 4.5576 CFD LONG 1,139 4.5576 CFD LONG 248 4.5576 CFD LONG 21,000 4.6147 CFD LONG 135,150 4.6512 CFD LONG 119,850 4.6512 CFD LONG 50,609 4.6917 CFD LONG 16,200 4.7248 CFD LONG 23,359 4.7319 CFD SHORT 14,542 4.5708 CFD SHORT 2,926 4.6791 CFD SHORT 94,102 4.6791 CFD SHORT 122,972 4.6791 CFD SHORT 122,972 4.6870 CFD SHORT 94,102 4.6870 CFD SHORT 2,926 4.6870 CFD SHORT 50,609 4.6871 CFD SHORT 94,102 4.6913 CFD SHORT 122,972 4.6913 CFD SHORT 2,926 4.6913 CFD SHORT 243,596 4.6942 CFD SHORT 6,927 4.7069 CFD SHORT 291,131 4.7069 CFD SHORT 222,780 4.7069 CFD SHORT 208,000 4.7180 CFD SHORT 27,700 4.7220 CFD SHORT 26,839 4.7265 CFD SHORT 45,031 4.7265 (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 5) price European etc. date paid/received per unit (Note 3) N/A N/A N/A N/A N/A N/A N/A (ii) Exercising Product name, e.g. call option Number of securities Exercise price per unit (Note 3) N/A N/A N/A 3. 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 Date of disclosure 07 February 2008 Contact name Zafrhan Fahmy Telephone number 020 7677 1871 Name of offeree/offeror with which connected Punch Tavern Plc Nature of connection (Note 6) Advisor Notes The Notes on Form 38.5(a) 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