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Wednesday 07 July, 2004


Disposal of Equity

07 July 2004

                                 SABMiller plc


                      SABMiller plc successfully disposes
            of its equity interest in Edgars Consolidated Stores Ltd

London and Johannesburg, 7 July 2004. SABMiller plc ('SABMiller') is pleased to
announce the successful disposal of its entire 21% equity interest in Edgars
Consolidated Stores Ltd ('Edcon').

Approximately 11.2 million ordinary shares in Edcon were sold to a broad spread
of local South African and international institutional investors through a
two-day accelerated bookbuild offering ('the Offering') priced at ZAR144 per
share. The price of ZAR144 per share represents a discount of 2.7% to the
closing price of the Edcon shares on the JSE Securities Exchange on 5 July 2004.
The settlement of the Offering is expected to take place on 15 July 2004.  The
disposal is not expected to have a material effect on SABMiller.

Commenting on the Offering, Graham Mackay, Chief Executive of SABMiller said, '
We are delighted with the results of the Offering which has enabled SABMiller to
exit one of its non-core investments on favourable terms. SABMiller thanks the
board of Edcon and its employees for delivering the strong and sustainable
growth achieved in the past few years, and wishes the company and its
shareholders every success in the future.'

Edcon did not receive any proceeds from the Offering.

Citigroup and JPMorgan acted 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

Caroline Metcalfe
Investor Relations manager                               Tel: +44 207 659 0113


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,

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.

                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                                                                                                                                                    

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