Morgan Stanley Securities Limited 18 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 17 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 757,624 3.4775 3.4150 Total number of securities sold Highest price received (Note 3) GBP Lowest price received (Note 3) GBP 75,814 3.4775 3.4200 (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 5,311 3.4472 CFD LONG 30,213 3.4480 CFD LONG 35,961 3.4548 CFD LONG 3,066 3.4570 CFD SHORT 6,400 3.4270 CFD SHORT 5,000 3.4469 CFD SHORT 36,714 3.4523 CFD SHORT 408 3.4561 CFD SHORT 500,000 3.4575 CFD SHORT 47,738 3.4579 CFD SHORT 103,900 3.4668 CFD SHORT 20,795 3.4671 CFD SHORT 31,810 3.4527 CFD SHORT 1,650 3.4533 CFD SHORT 4,311 3.4545 (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 price American, date paid/received per e.g. call option varying etc. relates (Note 5) European etc. 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 18 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