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SABMiller PLC - Acquisition of shares in ABI

RNS Number:2329D
22 September 2004


Ref: 23/04

      SABMiller makes recommended offer for all outstanding shares in ABI

The SABMiller group has today submitted a letter to the ABI board of directors
indicating a firm intention to make an offer to acquire the entire issued share
capital of ABI not already owned by the SABMiller group.  The offer, which is
subject to certain conditions, is for 91 Rand per ABI share to be paid in cash,
amounting to a total consideration of approximately R 3.8 billion (US$585

The board of directors of ABI, other than those members who are also directors
or employees of SABMiller, have recommended that shareholders of ABI vote in
favour of the offer, which represents a premium of 32.1 per cent to the closing
price on the last trading date immediately prior to the first cautionary
statement made on 21 July , 2004.

The proposed transaction is consistent with SABMiller's strategy of focusing on
its core brewing and beverage businesses, and affords SABMiller the opportunity
to simplify and consolidate the holding structure of its South African
interests.  Subject to legislative and contractual restrictions, the proposed
transaction will also afford SABMiller the opportunity to investigate possible
areas of synergy with its other South African operations.

The full text of the announcement is available on the JSE Securities Exchange
News Service (SENS) and on the SABMiller website,


Notes to editors:
SABMiller plc

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.

Amalgamated Beverage Industries Limited

Amalgamated Beverage Industries Limited (ABI) is the leading soft drink business
in the SABMiller plc group of companies.  ABI remains one of the largest
producers and trade marketers of The Coca-Cola Company brands in the southern
Africa region.  The company's core skills lie in the manufacture, trade
marketing, sales and distribution of a variety of the world's leading soft drink
brands, including carbonated soft drinks, sports and energy drinks, bottled
water and fruit juices. The company was established in 1967 as a result of
agreements between the Coca-Cola Export Corporation of the US, Cadbury Schweppes
(SA) Ltd and South African Breweries Ltd.  It became a public company in 1987
and listed on the Johannesburg Securities Exchange in 1989.This announcement
does not constitute an offer to sell or the solicitation of an offer to purchase
or subscribe for any securities in any jurisdiction.

The release, publication or distribution of this announcement in certain
jurisdictions may be restricted by law and therefore persons in any such
jurisdictions into which this announcement is released, published or distributed
should inform themselves about, and observe, such restrictions.

This announcement contains statements about Amalgamated Beverages Industries
Limited ('ABI'), SABMiller plc ('SABMiller') and members of the SABMiller group
(together with SABMiller, the 'SABMiller Group') that are or may be forward
looking statements.  All statements other than statements of historical facts
included in this announcement may be forward looking statements.  Any statements
preceded or followed by or that include the words 'targets', 'plans',
'believes', 'expects', 'aims', 'intends', 'will', 'may', 'anticipates' or
similar expressions or the negative thereof are forward looking statements.
Forward looking statements include statements relating to the following: (i)
future capital expenditures, expenses, revenues, economic performance, financial
condition, dividend policy, losses and future prospects; (ii) business and
management strategies and the expansion and growth of ABI's or the SABMiller
Group's operations; and (iii) the effects of government regulation on ABI's or
the SABMiller Group's business.

These forward looking statements involve known and unknown risks, uncertainties
and other factors which may cause the actual results, performance or
achievements of any such person, or industry results, to be materially different
from any results, performance or achievements expressed or implied by such
forward looking statements.  These forward looking statements are based on
numerous assumptions regarding the present and future business strategies of
such persons and the environment in which each will operate in the future.  All
subsequent oral or written forward looking statements attributable to ABI or any
member of the SABMiller Group or any persons acting on their behalf are
expressly qualified in their entirety by the cautionary statement above.  ABI
and the SABMiller Group expressly disclaim any obligation or undertaking to
disseminate any updates or revisions to any forward-looking statements contained
herein to reflect any change in their expectations with regard thereto or any
change in events, conditions or circumstances on which any such statement is

For further information:

Sue Clark
Director of Corporate Affairs                  Tel: + 44 (0) 20 7659 0184
SABMiller plc                                  Mob: + 44 (0) 7850 285471

Gary Leibowitz
Vice President, Investor Relations             Tel: +44 (0) 20 7659 0119
SABMiller plc                                  Mob: +44 (0) 7717 428540

Nigel Fairbrass
Head of Corporate Communications (Finance)     Tel: +44 (0) 20 7659 0105
SABMiller plc                                  Mob: +44 (0) 7799 894265

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


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