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SABMiller PLC - Equity Placing

RNS Number:5087A
SABMiller PLC
05 July 2004

                                   SABMiller plc

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE
UNITED STATES, CANADA, AUSTRALIA OR JAPAN

      Equity placing of remaining stake in Edgars Consolidated Stores Ltd

London and Johannesburg, 5 July 2004. SABMiller plc ('SABMiller') today
announces its intention to dispose of its entire remaining holding in Edgars
Consolidated Stores Ltd ('Edcon'), comprising approximately 11.2 million shares
or around 21% of the outstanding issued share capital which shares are listed on
the JSE Securities Exchange South Africa (the 'Offering').

The Offering will be in the form of a global private placement to South African
and international institutional investors outside the U.S. and to Qualified
Institutional Buyers ('QIBs') inside the U.S. The Offering will be executed by
way of an accelerated bookbuilding exercise, which will commence immediately,
Monday 5 July, and is expected to close on or before the close of business on
Thursday 8 July 2004.

SABMiller initially acquired its holding in Edcon in 1982, the majority of which
was unbundled prior to SABMiller's IPO on the London Stock Exchange in 1999. The
final disposal of SABMiller's residual stake in Edcon is in line with
SABMiller's stated strategy of focusing on its core brewing and beverage
operations.

Edcon will not receive any proceeds from the Offering.

Citigroup and JPMorgan are acting as Joint Bookrunners of the Offering.

Ends

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

Mat Dunn
Investor Relations, senior manager                         Tel: +44 207 659 0194

Citigroup

Lucy Ferguson                                              Tel: +44 207 986 0128

Darrell Uden                                               Tel: +44 207 986 0410


JPMorgan

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,
SABMiller.

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
END

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