FORM 8.5 (EPT/RI)

PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY

Rule 8.5 of the Takeover Code (the Code)

1. KEY INFORMATION

(a) Name of exempt principal trader:
UBS AG London Branch
Mitchells and Butlers Plc
(c) Name of the party to the offer with which exempt principal trader is connected:
Mitchells and Butlers Plc
(d) Date dealing undertaken:
12 October 2011
(e) Has the EPT previously disclosed, or is it today disclosing, under the Code in respect of any other party to this offer?
NO

2. DEALINGS BY THE EXEMPT PRINCIPAL TRADER

(a) Purchases and sales

Class of relevant security
Purchases/ sales
Total number of securities
Highest price per unit paid/received
Lowest price per unit paid/received
8 13/24p ordinary
Buy
294862
3.01600 GBP
2.50275 GBP
8 13/24p ordinary
Sell
270275
3.01600 GBP
2.50525 GBP

(b) Derivatives transactions (other than options)

Class of relevant security
Number of reference securities
Price per unit
8 13/24p ordinary
CFD
Long
1290
2.54961 GBP
8 13/24p ordinary
CFD
Long
1862
2.571 GBP
8 13/24p ordinary
CFD
Long
1643
2.505248 GBP
8 13/24p ordinary
CFD
Long
1010
2.556215 GBP
8 13/24p ordinary
CFD
Long
7714
2.535232 GBP
8 13/24p ordinary
CFD
Long
37791
2.542737 GBP
8 13/24p ordinary
CFD
Long
24356
2.549525 GBP
8 13/24p ordinary
CFD
Long
3576
2.549531 GBP
8 13/24p ordinary
CFD
Long
2199
2.542738 GBP
8 13/24p ordinary
CFD
Short
128000
2.502748 GBP
8 13/24p ordinary
CFD
Short
3195
2.53883 GBP

(c) Options transactions in respect of existing securities

(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(b), copy table 2(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

3. OTHER INFORMATION

(a) Indemnity and other dealing arrangements

None

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

None
13 October 2011
Gemma Crewdson
+44 (0)20 7568 1245

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.