Director Shareholding

Mitchells & Butlers PLC
06 December 2004


6 December 2004

                              Directors' Interests

Executive Share Option Plan

The following directors today exercised options over Mitchells & Butlers plc 
shares, disposing of sufficient shares to meet costs, tax and NI, as shown below:

           Option       Option      Shares      Selling     Shares    Balance of
            Price    Exercised        Sold        Price   Retained  Shares Under
                        Shares                                            Option
       ----------   ----------  ----------   ---------- ----------    ----------
Tim       214.47p      244,400 )
Clarke    181.42p        5,845 )   202,089    318.7566p     48,156     2,152,897

Mike      214.47p       97,704      79,043    318.7566p     18,661     1,274,497
Bramley

Tony      214.47p      144,189     116,649    318.7566p     27,540     1,342,820
Hughes

Six Continents Special Deferred Incentive Plan ('SDIP')

As described in the Listing Particulars sent to shareholders on 17 February
2003, and as part of the separation from Six Continents PLC, the Company agreed
to provide shares to meet existing entitlements under the SDIP in respect of Tim
Clarke.

Accordingly, 10,233 shares have been transferred today to Tim Clarke, Chief
Executive, from the Mitchells & Butlers Employee Benefit Trust to meet this
entitlement under the SDIP for 2002/03. These shares have been transferred net
of tax and NI liabilities.

Share Balances

Following the above transactions, the directors hold the following Mitchells &
Butlers plc shares:

Tim Clarke               411,349
Mike Bramley              36,837
Tony Hughes               51,704

Following these transactions and other option exercises by non directors, the
Mitchells & Butlers Employee Benefit Trust is interested in 2,927,374 Mitchells
& Butlers shares. The executive directors of the Company, Mike Bramley, Tim
Clarke, Tony Hughes and Karim Naffah, are technically deemed to be interested in
these shares as potential beneficiaries under the Trust.

M J N Bridge
Deputy Secretary
0121 498 4526




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