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SABMiller PLC - Convertible Bond Redemption

RNS Number:9746G
SABMiller PLC
04 January 2005


                                 SABMiller plc

Redemption of US$600,000,000 4.25% Guaranteed convertible Bonds Due 2006


London and Johannesburg, 4 January 2005. On 9 December 2004, SABMiller plc
('SABMiller') announced that its subsidiary, SAB Finance (Cayman Islands)
Limited (the 'Issuer'), was exercising its right to call for the redemption of
all of its US$600,000,000 4.25% Guaranteed Convertible Bonds due 10 August 2006
(the 'Bonds') remaining in issue.

Bondholders had the right, up to the close of business on 29 December 2004, to
elect to convert their Bonds into SABMiller ordinary shares at the conversion
price of £6.15 per share, which if converted, would result in the issuance of
115.3203 SABMiller ordinary shares in respect of each US$1,000 principal amount
of the Bond.  The Bond trustee (the 'Trustee') had the right, up to the close of
business on 7 January 2005, to convert any Bonds which remained unconverted.

The Issuer has today announced that the Bondholders and the Trustee have
exercised their right to convert all of the Bonds into SABMiller ordinary
shares, which has led to 69,192,159 SABMiller ordinary shares being issued and
allotted.  All of the Bonds have now been cancelled.


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