Mitchells & Butlers PLC 31 December 2004 TREASURY SHARES Mitchells & Butlers announces that following the exercise of share options by non-directors over 41,475 shares, it now holds 773,869 ordinary shares as treasury shares. The total number of Mitchells & Butlers shares in issue, excluding treasury shares, is now 522,725,171. For reporting purposes under Section 198 of the Companies Act 1985, the market should exclude any shares held in treasury. Victoria M Penrice Assistant Company Secretary 0121 498 4189 This information is provided by RNS The company news service from the London Stock Exchange