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Equity placing of remaining stake in Edgars Consolidated Stores Ltd

5 July 2004

London and Johannesburg. SABMiller plc ('SABMiller') today announces its intention to dispose of its entire remaining holding in Edgars Consolidated Stores Ltd ('Edcon'), comprising approximately 11.2 million shares or around 21% of the outstanding issued share capital which shares are listed on the JSE Securities Exchange South Africa (the 'Offering').

The Offering will be in the form of a global private placement to South African and international institutional investors outside the U.S. and to Qualified Institutional Buyers ('QIBs') inside the U.S. The Offering will be executed by way of an accelerated bookbuilding exercise, which will commence immediately, Monday 5 July, and is expected to close on or before the close of business on Thursday 8 July, 2004.

SABMiller initially acquired its holding in Edcon in 1982, the majority of which was unbundled prior to SABMiller's IPO on the London Stock Exchange in 1999. The final disposal of SABMiller's residual stake in Edcon is in line with SABMiller's stated strategy of focusing on its core brewing and beverage operations.

Edcon will not receive any proceeds from the Offering.

Citigroup and JPMorgan are acting as Joint Bookrunners of the Offering.


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.

For further information:

SABMiller plc
Nigel Fairbrass
Head of corporate communications (Finance)
Tel: +44 207 659 0105

Mat Dunn
Investor Relations, senior manager
Tel: +44 207 659 0194

Lucy Ferguson
Tel: +44 207 986 0128

Darrell Uden
Tel: +44 207 986 0410

Ian Hannam Tel:
+44 207 325 1168

Arjun Khullar
Tel: +44 207 325 1675

This announcement has been issued by, and is the sole responsibility of, SABMiller.

The distribution of this announcement and the offer and sale of Edcon shares in certain jurisdictions may be restricted by law. Any persons reading this announcement should inform themselves of, and observe, any such restrictions.

This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America (including its territories and possessions, any state of the United States and the District of Columbia). This announcement does not in any manner constitute an invitation to invest or an advertisement, notification, statement or announcement soliciting investment in the shares of Edgars Consolidated Stores Limited or an offer of securities for sale in the United States or in any jurisdiction in which such an offer or solicitation is unlawful. The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to registration or an applicable exemption from registration. No public offering of securities is being made into the United States.

Within the United Kingdom, this announcement is directed only at persons who have professional experience in matters relating to investments who fall within article 19(5) of the United Kingdom Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 (as amended) (the 'Order') or are persons falling within article 49(2)(a) to (d) ('high net worth individuals, unincorporated associations etc.') of the Order (all such persons together being referred to as 'relevant persons'). This communication must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this communication relates is available only to relevant persons and will be engaged in only with relevant persons. As regards all persons other than relevant persons, the details of the Offering and bookbuilding set out in this announcement are for information purposes only.

No prospectus offering securities to the public will be published.

Citigroup and JPMorgan are acting for SABMiller and no one else in connection with the Offering and will not be responsible to any other person for providing the protections afforded to their respective clients, or for providing advice in relation to the Offering.

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