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SABMiller PLC (SAB)

  Print      Mail a friend       Annual reports

Monday 24 July, 2006

SABMiller PLC

SABMiller China Acquisitions

SABMiller PLC
24 July 2006





 SABMiller associate announces acquisitions in Zhejiang and Anhui provinces 
                                   in China



London and Johannesburg, 24 July 2006.  China Resources Snow Breweries Limited
('CR Snow'), an associate of SABMiller plc and a subsidiary of China Resources
Enterprise, Limited ('CRE'), announces that it has agreed to acquire a 100%
equity interest in Zhejiang Yinyan Brewery Company Limited or 'Yinyan Brewery'
for a cash consideration of US$42.3 million.  In addition, CR Snow will acquire
the brewing related assets of the Anhui Huaibei Xiangwang Brewery Company
Limited or 'Xiangwang Brewery' for a consideration of US$10.1 million.

Situated in the Haiyan county of Zhejiang Province on the east coast of China,
the Yinyan Brewery is well positioned to further extend CR Snow's footprint in
northern Zhejiang, an area which is close to a number of major cities including
Shanghai, Hangzhou, Suzhou and Ningbo.  Similarly, Xiangwang Brewery is based in
Huaibei, a major city in northern Anhui.  Upon acquisition, our national brand 
'SNOW' will be produced as soon as practicable. At present, CR Snow has two
breweries in Zhejiang Province and five breweries in Anhui Province, with 2005
sales volumes of 2.9 million hectolitres and 4.9 million hectolitres
respectively.  Both breweries are strategic acquisitions in the development of
CR Snow's footprint in China.

Incorporating Yinyan Brewery's net debt of US$6 million and CR Snow's intention
to invest an additional US$1.8 million, the total investment cost in Yinyan
Brewery is expected to be approximately US$50.2 million.  The current annual
production capacity of the brewery is 1.8 million hectolitres and this will be
increased to 2.4 million hectolitres after undergoing the planned investment.
At present, the portfolio is focused on the 'Yinyan' series of beers, which are
distributed in the Jiaxing area of Zhejiang; and in Shanghai.  In 2005 the
Yinyan Brewery sold approximately 1 million hectolitres of beer.

The consideration for the acquisition of Xiangwang Brewery is based on appraised
asset value, with an intended further investment of US$7.4 million, bringing
total investment cost to approximately US$17.4 million.  The annual production
capacity of the brewery will be upgraded from 930,000 hectolitres to 1.6 million
hectolitres. At present, the brewery's main brand 'Xiangwang', has a dominant
market share in Huaibei and in 2005 the brewery reported sales volume of about
650,000 hectolitres.

Mr. Andre Parker, Managing Director of SABMiller Africa & Asia, said, 'We have a
profitable and growing presence in Zheijiang and Anhui. Therefore these
acquisitions will not only effectively reinforce CR Snow's market position in
these provinces, but provide a larger platform to expand our national brand SNOW
in these strong growth areas.'

Mr. Mark Chen, Managing Director of China Resources Enterprise, Limited said, 
'The two acquisitions play a crucial role in the strategic development of CR
Snow in these areas.  Yinyan Brewery will generate synergies with our existing
breweries at Qianjiang and Xiling, cementing a strong network in the northern
region of Zhejiang Province. It will also provide us direct access to the
Shanghai market given its proximity to the city.  Whilst at the same time,
acquisition of Xiangwang Brewery will establish CR Snow's production base in
northern Anhui and add to our dominant market position in the province.'


Ends


Notes to editors

About China Resources Snow Breweries Limited

China Resources Snow Breweries Limited was established in 1994 and is engaged in
the production, sales and marketing of beer and beverages in China.  Its
shareholders are China Resources Enterprise, Limited and SABMiller plc.  China
Resources Enterprise, Limited has a 51% interest in China Resources Snow
Breweries Limited while SABMiller plc holds a 49% interest.  It operates about
40 breweries in the Chinese Mainland with a total sales volume of about 39.5
million hectolitres in 2005.


About SABMiller plc

SABMiller plc is one of the world's largest brewers with brewing interests or
distribution agreements in over 60 countries across five continents. The group's
brands include premium international beers such as Miller Genuine Draft, Peroni
Nastro Azzurro and Pilsner Urquell, as well as an exceptional range of market
leading local brands.  Outside the USA, SABMiller plc is also one of the largest
bottlers of Coca-Cola products in the world.

In the year ended 31 March 2006, the group reported US$2,626 million adjusted
pre-tax profit and a turnover of US$15,307 million.  SABMiller plc is listed on
the London and Johannesburg stock exchanges.

This announcement is available on www.sabmiller.com


About China Resources Enterprise, Limited

China Resources Enterprise, Limited is listed on the Hong Kong Stock Exchange
and is also traded on SEAQ International of the London Stock Exchange.  It is
also one of the constituent stocks of the Hang Seng Index in Hong Kong and Hang
Seng London Reference Index.  The Group focuses on the consumer businesses in
both Hong Kong and the Chinese Mainland, with core activities being retail,
beverage, food processing and distribution, textile and property investment.


Enquiries:
                     SABMiller plc                         Tel: +44 20 7659 0100

Sue Clark            Director of Corporate Affairs         Tel: +44 20 7659 0184

Gary Leibowitz       Senior Vice President, 
                     Investor Relations                    Tel: +44 20 7659 0119                                

James Crampton       Media Relations Manager               Tel: +44 20 7659 0172



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.

Any information contained in this announcement on the price at which the
Company's securities have been bought or sold in the past, or on the yield on
such securities, should not be relied upon as a guide to future performance.








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