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  Print      Mail a friend       Annual reports

Monday 24 September, 2007


Investor Presentation

24 September 2007

Ref 29/2007

24 September 2007

SABMiller executives highlight strong, broad-based lager growth across the group
                   with volume and margin recovery at Miller

At an investor presentation in New York today, SABMiller's senior management
team will reiterate its confidence in the group's future growth prospects in a
series of presentations focused on the strategic drivers in the company's main

As a group, SABMiller has continued its strong start to the year, with organic
growth in lager volumes of over 11% for the five months to the end of August
2007, driven by Africa & Asia, Latin America and Central and Eastern Europe.

In North America, Miller's domestic sales to retailers (STRs) have increased by
1.3% on an organic basis after an adjustment for one less trading day in the
five month period, with Miller Lite STRs up by 1.7%. Miller's strategy to grow
Miller Lite in the mainstream light category and to migrate its brand portfolio
to higher margin segments has contributed to an increase of 4.0% in domestic net
revenue per barrel. Miller Chill, the company's new 'chelada style' light beer,
sold almost 300,000 barrels in the period and is well on its way to exceeding
its target of 400,000 barrels for the year, whilst volumes of the group's
international worthmore brand Peroni Nastro Azzurro, and craft beer
Leinenkugel's, are up by strong double digit percentages. As a result of this
volume performance, the improving sales mix and further cost efficiencies,
Miller expects to see margin improvement significantly in excess of 50 basis
points in the current year.

In Europe, where the group has grown organic constant currency EBITA by almost
20% in each of the past 6 years, the group continues to drive strong volume
growth and to take market share despite intense international competition. As
these mainly Central and Eastern European markets develop, SABMiller is
exploiting its ownership of the most valuable brand portfolios in these
countries, improving mix through the development of innovative worthmore
products and leading mainstream brand propositions.

SABMiller's operations in Latin America offer significant potential for future
growth given historical under-investment in the beer category. The group is now
putting substantial expenditure behind improvements to the image of its products
and in developing strong portfolios of differentiated brands that appeal to a
wider range of consumers and drinking occasions. Further investment in the
group's production capacity, route to market and retail points of sale, through
initiatives such as fleet upgrades, telesales operations and the enhancement of
merchandising, will further support top-line growth. These investments are also
expected to enhance margins in the medium term, although the effect will be to
constrain them in the near term. Whilst the business has recently enjoyed a
period of unexpectedly high volume growth during the initial implementation of
the group's plans, this growth is expected to moderate over the remainder of the

The favourable economic landscape in South Africa will continue to underpin
future volume and revenue drivers in both lager and soft drinks as the group
invests to rejuvenate the mainstream beer category and to enhance its
competitive position in the worthmore product segment. Building on the success
of Peroni Nastro Azzurro and the recently launched Hansa Marzen Gold, the group
will consider further new product launches in addition to improving market
penetration through the expansion of trade licensing and direct delivery. The
reintroduction of the Amstel brand following the contract termination earlier
this year appears to have been delayed, limiting the anticipated financial
impact to US$40-50 million in the current year.

SABMiller's Africa & Asia operations are also growing rapidly. In China, the
group's joint venture has become the country's leading brewer and its main
brand, SNOW, is also the country's largest lager brand with a 10% share of the
market. In India, where the group's market share is approaching 35%, the recent
acquisition of the Foster's brand is driving excellent growth in its mild beer
portfolio. Elsewhere in Asia, SABMiller has recently commenced operations in
Vietnam and it continues to seek further opportunities in the region. The
development of African economies is creating opportunities to cater to a range
of consumers with increasingly full brand portfolios. The group is investing in
significant additional capacity and extending distribution to further extend its
growth and leadership across the African continent.

The investor presentation and Q&A will be broadcast live by webcast on the
company's website, beginning at 13.30 EDT / 18.30 British
Summer Time. A replay will be available following the presentation. A trading
update for the group's first fiscal half will be published on 15 October, 2007.


About SABMiller plc

SABMiller plc is one of the world's largest brewers with brewing interests or
distribution agreements in over 60 countries across six 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 2007, the group reported US$3,154 million adjusted
pre-tax profit and revenue of US$18,620 million. SABMiller plc is listed on the
London and Johannesburg stock exchanges.

This announcement is available on the company website:

High resolution images are available for the media to view and download free of
charge from or


                  SABMiller plc                            Tel: +44 20 7659 0100

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

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

Nigel Fairbrass   Head of Media Relations                  Tel: +44 7799 894 265

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

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

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