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SouthAfricanBrewerie (SAB)

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Tuesday 11 December, 2001


Exercise of Option

South African Breweries PLC
11 December 2001

                      SOUTH AFRICAN BREWERIES PLC


                      Placing of Ordinary Shares
             of South African Breweries plc (the Placing)

                         Exercise of Option

London and Johannesburg, 11 December 2001. South African Breweries plc (the
Company) announces that Cazenove & Co. Ltd and J.P. Morgan Securities Ltd.
(the Joint Bookrunners), on behalf of the International Placement Agents
(which includes, in addition to the Joint Bookrunners, ABN AMRO Rothschild),
have exercised the option over 8.5 million additional ordinary shares referred
to in the announcement by the Company on 7 December 2001 regarding the details
of the pricing and size of the Placing.

*        The gross proceeds receivable by the Company as a result of the
exercise of the option will be approximately £38 million.

*        Applications are being made for the additional ordinary shares to be
listed on the Official List and admitted to trading on the London Stock
Exchange and will be made for the additional ordinary shares to be listed on
the JSE Securities Exchange South Africa (the JSE).

*        Admission is expected to become effective, and dealings in the
additional ordinary shares are expected to commence on, the London Stock
Exchange at 8.00 am on 14 December 2001.

*        Dealings in the additional ordinary shares are expected to commence
on the JSE on 14 December 2001.

- ENDS -

This announcement is for information purposes only and does not constitute an
offer or an invitation to acquire or dispose of any securities or investment
advice. This announcement does not constitute an offer to sell or issue or the
solicitation of an offer to buy or acquire ordinary shares in the capital of
the Company in the United States or any jurisdiction in which such offer or
solicitation is unlawful.  The additional ordinary shares referred to in this
announcement may not be offered or sold within the United States or to, or for
the account or benefit of, US persons (as defined in Regulation S under the US
Securities Act of 1933) absent registration or an exemption from registration.
Any offering of securities in the United States has been made by means of a
Public Information Pack that contains detailed information about the Company
and its management, as well as financial statements.  No public offering of
securities has been or will be made in the United States.

The distribution of this announcement and the Placing and/or issue of ordinary
shares in certain jurisdictions may be restricted by law.  No action has been
taken by the Company or the Managers that would permit an offer of ordinary
shares or possession or distribution of this announcement or any other
offering or publicity material relating to ordinary shares in any jurisdiction
where action for that purpose is required, other than in the United Kingdom.
Persons into whose possession this announcement comes are required by the
Company and the Managers to inform themselves about and to observe any such

The ordinary shares have not been approved or disapproved by the US Securities
and Exchange Commission, any state securities commission in the United States
or any other US regulatory authority, nor have any of the foregoing
authorities passed upon or endorsed the merits of the Placing or the
additional ordinary shares or the accuracy of this announcement.  Any
representation to the contrary is a criminal offence in the United States.

For further information:

Nick Chaloner
Director of Communications, SAB plc +44 (0) 20 7659 0119
Mob: +44 (0) 7880 502 755

Anna Miller Salzman
Head of Investor Relations, SAB plc +44 (0) 20 7659 0106
Mob: +44 (0) 7973 837 070

Ciaran Baker
Head of Corporate Communications, SAB plc+44 (0) 20 7659 0120
Mob:+44 (0) 7979 954 493

David Mayhew, Cazenove +44 (0) 207 588 2828

Ian Hannam, JPMorgan +44 (0) 207 742 8618