Morgan Stanley Secs - EPT Disclosure - Amendment

RNS Number:0756S
Morgan Stanley Securities Limited
10 April 2008

AMENDMENT TO ANNOUNCEMENT 9928R RELEASED AT 14:11 ON 9 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 Punch Tavern Plc

Class of relevant security to which the Ordinary Shares
dealings being disclosed relate (Note 1)

Date of dealing 08 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

219,134 5.8350 5.6450

Total number of securities sold Highest price received (Note 3) GBP Lowest price received (Note 3) GBP

112,398 5.8350 5.6650

(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 3,621 5.7217
CFD LONG 3,621 5.7300
CFD LONG 12,576 5.7010
CFD LONG 2,718 5.7018
CFD LONG 6,144 5.7065
CFD LONG 3,119 5.7116
CFD LONG 11,315 5.7156
CFD LONG 935 5.7156
CFD LONG 9,354 5.7158
CFD LONG 4,781 5.7195
CFD LONG 12,892 5.7216
CFD LONG 859 5.7292
CFD LONG 36,332 5.7292
CFD SHORT 700 5.6629
CFD SHORT 25,184 5.6895
CFD SHORT 65,000 5.6981
CFD SHORT 700 5.6986
CFD SHORT 10,726 5.7011
CFD SHORT 33,402 5.7016
CFD SHORT 41,006 5.7077
CFD SHORT 13,638 5.7105
CFD SHORT 3,437 5.7130
CFD SHORT 9,599 5.7130
CFD SHORT 5,470 5.7197
CFD SHORT 2,718 5.8357

(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 American,
e.g. call option varying etc. relates (Note 5) price European etc. date paid/received per
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 10 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
www.thetakeoverpanel.org.uk

This information is provided by RNS
The company news service from the London Stock Exchange
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