Morgan Stanley Securities Limited 25 February 2008 AMENDMENT TO ANNOUNCEMENT 5603O RELEASED AT 11:26 ON 22 FEBRUARY 2007 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 21 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 1,103,179 4.4900 4.4000 Total number of securities sold Highest price received (Note 3) GBP Lowest price received (Note 3) GBP 335,561 4.4800 4.3999 (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 177,351 4.4000 CFD SHORT 5,849 4.4000 CFD SHORT 1,635 4.4125 CFD SHORT 8,061 4.4507 CFD LONG 3,810 4.4211 CFD LONG 101,490 4.4301 CFD LONG 27,070 4.4344 CFD LONG 36,000 4.4447 CFD LONG 28,000 4.4523 CFD LONG 33,830 4.4546 CFD LONG 33,509 4.4566 CFD SHORT 1,000,000 4.4000 CFD SHORT 33,509 4.4225 CFD SHORT 22,800 4.4304 CFD SHORT 3,000 4.4525 CFD SHORT 16,200 4.4598 CFD LONG 7,343 4.3999 CFD LONG 52,384 4.4395 (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 25 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