Form 8.3 – Mitchells & Butlers PLC

FORM 8.3

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY

A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE

Rule 8.3 of the Takeover Code (the "Code")

1. KEY INFORMATION

(a) Identity of the person whose positions/dealings are being disclosed:	BlackRock, Inc.
	N/A
	Mitchells & Butlers PLC
(d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:
(e) Date position held/dealing undertaken:	11^th October 2011
(f) Has the discloser previously disclosed, or are they today disclosing, under the Code in respect of any other party to this offer?	No

2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE

(a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

Class of relevant security:	8 13/24p ordinary
	Interests	Short positions
Number	%	Number	%
(1) Relevant securities owned and/or controlled:	10,280,088	2.51
(2) Derivatives (other than options):	5,454,224	1.33	4,690,533	1.15
(3) Options and agreements to purchase/sell:
TOTAL:	15,734,312	3.84	4,690,533	1.15

All interests and all short positions should be disclosed.

Details of any open derivative or option positions, or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

(b) Rights to subscribe for new securities (including directors' and other executive options)

Class of relevant security in relation to which subscription right exists:
Details, including nature of the rights concerned and relevant percentages:

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

(a) Purchases and sales

Class of relevant security	Purchase/sale	Number of securities	Price per unit
8 13/24p ordinary	Purchase	10,492	GBP 2.50
8 13/24p ordinary	Sale	6,065	GBP 2.50
8 13/24p ordinary	Sale	2,641	GBP 2.51

(b) Derivatives transactions (other than options)

Class of relevant security			Number of reference securities	Price per unit
8 13/24p ordinary	CFD	Reducing Short	100,000	GBP 2.50
8 13/24p ordinary	CFD	Reducing Long	2,796	GBP 2.47
8 13/24p ordinary	CFD	Reducing Long	19,529	GBP 2.49
8 13/24p ordinary	CFD	Reducing Long	38,095	GBP 2.50
8 13/24p ordinary	CFD	Reducing Long	13,163	GBP 2.51
8 13/24p ordinary	CFD	Reducing Long	8,626	GBP 2.52

(i) Writing, selling, purchasing or varying

Class of relevant security	Product description e.g. call option	Writing, purchasing, selling, varying etc.	Number of securities to which option relates	Exercise price per unit		Expiry date	Option money paid/ received per unit

(ii) Exercising

Class of relevant security		Number of securities	Exercise price per unit

(d) Other dealings (including subscribing for new securities)

Class of relevant security		Details	Price per unit (if applicable)

The currency of all prices and other monetary amounts should be stated.

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

4. OTHER INFORMATION

(a) Indemnity and other dealing arrangements

None.

(b) Agreements, arrangements or understandings relating to options or derivatives

None.

Is a Supplemental Form 8 (Open Positions) attached?

	12 October 2011
	Andrew Manchester
	020 7743 5773

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service and must also be emailed to the Takeover Panel at [email protected]. The Panel's Market Surveillance Unit is available for consultation in relation to the Code's dealing disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.