Morgan Stanley Secs - EPT Disclosure

RNS Number:0783S
Morgan Stanley Securities Limited
10 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 Mitchells & Butlers Plc
Class of relevant security to which the Ordinary Shares
dealings being disclosed relate (Note 1)

Date of dealing 09 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

290,549 3.4000 3.1200

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

212,676 3.3925 3.1325

(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 82 3.1850
CFD LONG 300 3.1850
CFD SHORT 1,457 3.3180
CFD LONG 38,593 3.1846
CFD LONG 20,500 3.1846
CFD LONG 24,096 3.2225
CFD LONG 73,474 3.2325
CFD LONG 14,567 3.3019
CFD SHORT 439 3.1612
CFD SHORT 439 3.1612
CFD SHORT 9,122 3.1612
CFD SHORT 11,360 3.1890
CFD SHORT 14,567 3.2021
CFD SHORT 25,637 3.2105
CFD SHORT 73,474 3.2450
CFD SHORT 66,458 3.2632
CFD SHORT 8,542 3.2632
CFD SHORT 5,000 3.2732
CFD SHORT 25,087 3.2959
CFD SHORT 7,603 3.3123

(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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