Morgan Stanley Securities Ld(EPT) 08 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 07 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 563,066 4.7600 4.4700 Total number of securities sold Highest price received (Note 3) GBP Lowest price received (Note 3) GBP 3,080,694 4.7675 4.4700 (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 458 4.4700 CFD LONG 53,028 4.4700 CFD LONG 5,659 4.4900 CFD LONG 51,299 4.5758 CFD LONG 1,271 4.6750 CFD LONG 2,500,000 4.4700 CFD LONG 10,200 4.5462 CFD LONG 2,200 4.5462 CFD LONG 3,990 4.5893 CFD LONG 40,465 4.6010 CFD LONG 3,990 4.6279 CFD LONG 4,000 4.6308 CFD LONG 354,296 4.6472 CFD LONG 51,729 4.6593 CFD LONG 864 4.7068 CFD LONG 1,009 4.7068 CFD LONG 1,799 4.7068 CFD LONG 182 4.7068 CFD LONG 1,797 4.7068 CFD SHORT 10,200 4.4706 CFD SHORT 37,800 4.4706 CFD SHORT 22,106 4.5797 CFD SHORT 13,175 4.5797 CFD SHORT 58,065 4.5889 CFD SHORT 376,234 4.6039 (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 08 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 This information is provided by RNS The company news service from the London Stock Exchange