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Possible offer for Amalgamated Beverage Industries Limited

2 September 2004

SABMiller plc (‘SABMiller’) and Amalgamated Beverage Industries Limited (‘ABI’), the publicly listed South African Coca-Cola bottler in which SABMiller has a 73.5% holding, have today issued a joint announcement on the JSE Securities Exchange South Africa.

The announcement stated that SABMiller continues to investigate proposals which may lead to it making an offer to acquire all of the ABI shares that it does not already own for a cash consideration of approximately R78.00 per ABI share. 

The full text of the announcement is set out below:

“In a cautionary announcement dated 21 July 2004, shareholders of ABI were advised that SABMiller was investigating proposals which may lead to it making an offer to acquire all of the ABI shares that it does not already own for a cash consideration of approximately R 78.00 per ABI share."

"SABMiller continues to investigate these proposals, and therefore shareholders of ABI are advised to continue to exercise caution when dealing in their shares until a further announcement is made.”

2 September 2004


For further information:

SABMiller plc

Ciaran Baker
Head of Corporate Communications
Tel: +44 20 7659 0120

Gary Leibowitz
Vice-President Investor Relations
Tel. +44 20 7659 0119

Notes to editors:
SABMiller plc is one of the world’s largest brewers, with 2003/04 lager sales volumes in excess of 137 million hectolitres.  It has a brewing presence in over 40 countries across four continents and a portfolio of strong brands and leading market shares in many of the countries in which it has brewing operations.  Outside the USA, SABMiller plc is one of the largest bottlers of Coca-Cola products in the world.
In the year ended 31 March 2004, the group generated US$1,391million pre-tax profit from a turnover of US$12,645 million.  SABMiller plc is listed on the London and Johannesburg stock exchanges.

This announcement does not constitute an offer to sell or the solicitation of an offer to purchase or subscribe for any securities in any jurisdiction.

The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in any such jurisdictions into which this announcement is released, published or distributed should inform themselves about, and observe, such restrictions.

This announcement contains statements about Amalgamated Beverages Industries Limited (‘ABI’), SABMiller plc (‘SABMiller’) and members of the SABMiller group (together with SABMiller, the "SABMiller Group") that are or may be forward looking statements.  All statements other than statements of historical facts included in this announcement may be forward looking statements.  Any statements preceded or followed by or that include the words "targets", "plans", "believes", "expects", "aims", "intends", "will", "may", "anticipates" or similar expressions or the negative thereof are forward looking statements.  Forward looking statements include statements relating to the following: (i) future capital expenditures, expenses, revenues, economic performance, financial condition, dividend policy, losses and future prospects; (ii) business and management strategies and the expansion and growth of ABI's or the SABMiller Group's operations; and (iii) the effects of government regulation on ABI's or the SABMiller Group's business.

These forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of any such person, or industry results, to be materially different from any results, performance or achievements expressed or implied by such forward looking statements.  These forward looking statements are based on numerous assumptions regarding the present and future business strategies of such persons and the environment in which each will operate in the future.  All subsequent oral or written forward looking statements attributable to ABI or any member of the SABMiller Group or any persons acting on their behalf are expressly qualified in their entirety by the cautionary statement above.  ABI and the SABMiller Group expressly disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in their expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

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