Morgan Stanley Securities Limited 10 April 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 09 April 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 290,549 3.4000 3.1200 Total number of securities sold Highest price received (Note 3) GBP Lowest price received (Note 3) GBP 212,676 3.3925 3.1325 (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 82 3.1850 CFD LONG 300 3.1850 CFD SHORT 1,457 3.3180 CFD LONG 38,593 3.1846 CFD LONG 20,500 3.1846 CFD LONG 24,096 3.2225 CFD LONG 73,474 3.2325 CFD LONG 14,567 3.3019 CFD SHORT 439 3.1612 CFD SHORT 439 3.1612 CFD SHORT 9,122 3.1612 CFD SHORT 11,360 3.1890 CFD SHORT 14,567 3.2021 CFD SHORT 25,637 3.2105 CFD SHORT 73,474 3.2450 CFD SHORT 66,458 3.2632 CFD SHORT 8,542 3.2632 CFD SHORT 5,000 3.2732 CFD SHORT 25,087 3.2959 CFD SHORT 7,603 3.3123 (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 10 April 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