Update on Property Review

Mitchells & Butlers PLC
21 May 2007


21 May 2007

Mitchells & Butlers plc

Further to press speculation yesterday Mitchells & Butlers confirms that,
following a comprehensive review of options for its freehold and long leasehold
properties, it is exploring the possibility of a 50:50 joint venture on the
majority of its property assets. A number of third parties have been approached,
and negotiations are proceeding with R20, the investment vehicle of Robert
Tchenguiz, although there can be no certainty that any transaction will be
forthcoming.

Enquiries:

Finsbury Group 020 7251 3801
James Murgatroyd




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