Mitchells & Butlers PLC 06 December 2004 6 December 2004 Directors' Interests Executive Share Option Plan The following directors today exercised options over Mitchells & Butlers plc shares, disposing of sufficient shares to meet costs, tax and NI, as shown below: Option Option Shares Selling Shares Balance of Price Exercised Sold Price Retained Shares Under Shares Option ---------- ---------- ---------- ---------- ---------- ---------- Tim 214.47p 244,400 ) Clarke 181.42p 5,845 ) 202,089 318.7566p 48,156 2,152,897 Mike 214.47p 97,704 79,043 318.7566p 18,661 1,274,497 Bramley Tony 214.47p 144,189 116,649 318.7566p 27,540 1,342,820 Hughes Six Continents Special Deferred Incentive Plan ("SDIP") As described in the Listing Particulars sent to shareholders on 17 February 2003, and as part of the separation from Six Continents PLC, the Company agreed to provide shares to meet existing entitlements under the SDIP in respect of Tim Clarke. Accordingly, 10,233 shares have been transferred today to Tim Clarke, Chief Executive, from the Mitchells & Butlers Employee Benefit Trust to meet this entitlement under the SDIP for 2002/03. These shares have been transferred net of tax and NI liabilities. Share Balances Following the above transactions, the directors hold the following Mitchells & Butlers plc shares: Tim Clarke 411,349 Mike Bramley 36,837 Tony Hughes 51,704 Following these transactions and other option exercises by non directors, the Mitchells & Butlers Employee Benefit Trust is interested in 2,927,374 Mitchells & Butlers shares. The executive directors of the Company, Mike Bramley, Tim Clarke, Tony Hughes and Karim Naffah, are technically deemed to be interested in these shares as potential beneficiaries under the Trust. M J N Bridge Deputy Secretary 0121 498 4526 This information is provided by RNS The company news service from the London Stock Exchange