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Proposed acquisition of minority interest in the Czech Republic

25 July 2005

Ref: 16/2005

SABMiller plc announces that its wholly owned subsidiary Pilsner Urquell Investments B.V. (“PUI”) has initiated a buy-out process to acquire the remaining 3.1% interest held by minority shareholders in the group’s Czech operating company, Plzeňský Prazdroj a.s. (“Plzeňský Prazdroj”). Following the proposed transaction, PUI will be the sole shareholder in Plzeňský Prazdroj.

Following an amendment to the Czech Commercial Code and at the request of PUI, Plzeňský Prazdroj’s majority shareholder, the board of directors of Plzeňský Prazdroj has called an extraordinary general meeting of shareholders (“EGM”) at which it expects PUI’s offer to minority shareholders to be approved. The value of the gross assets to be acquired is US$18.0 million or CZK446.7 million (representing 3.1% of total gross assets). The EGM is expected to take place on 26th August 2005 and the acquisition of the minority shareholders’ interest is expected to complete in October 2005.

Ends  

Notes to editors:
SABMiller plc
SABMiller plc is one of the world’s largest brewers, with 2004/05 lager sales volumes in excess of 148 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 2005, the group generated US$2,194 million pre-tax profit from a turnover of US$14,543 million.  SABMiller plc is listed on the London and Johannesburg stock exchanges.

Plzeňský Prazdroj
Plzeňský Prazdroj is the leading brewing company in the Czech Republic with lager sales volumes of over 9.7m hls in 2004/05 in over 50 countries. Its main brands are Pilsner Urquell, Gambrinus, Radegast and Velkopopovický Kozel.

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This announcement does not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire securities of SABMiller plc (the "Company") or any of its affiliates in any jurisdiction or an inducement to enter into investment activity.

This document includes "forward-looking statements".  These statements may contain the words "anticipate", "believe", "intend", "estimate", "expect" and words of similar meaning.  All statements other than statements of historical facts included in this announcement, including, without limitation, those regarding the Company's financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to the Company's products and services) are forward-looking statements.  These forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements.  These forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future.  These forward-looking statements speak only as at the date of this announcement.  The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this announcement to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

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