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SABMiller PLC - Investment in Vietnam

RNS Number:9309W
SABMiller PLC
13 January 2006

The following replaces 'Investment in Vinamilk' which was released today at 15:
00 GMT under RNS announcement 9249W. The headline should read 'Investment in
Vietnam'.


Ref 01/2006


SABMiller plc announces investment in high growth Vietnamese beer market


London and Johannesburg, 13 January 2006. SABMiller plc ('SABMiller') announces
that it has entered into a joint venture with Vietnam Dairy Products Joint Stock
Company ('Vinamilk') to establish a greenfield brewery in the Binh Duong
province in southern Vietnam, subject to certain conditions being fulfilled.


Under the terms of the agreement, SABMiller and Vinamilk will each hold a 50%
interest in the joint venture investment vehicle, for which the total initial
investment capital will be US$ 45 million.  SABMiller's share of the investment
will be settled in cash from existing resources.


The initial capacity of the brewery, which is expected to be operational by
2007, will be 500k hectolitres, with the ability to expand production to 1
million hectolitres. Such expansion would be funded from operating cashflows.


Vinamilk is a widely recognised and successful company in Vietnam, and with an
estimated 70% market share in milk and related products and beverages, is the
national market leader in this sector, with a strong distribution network
throughout Vietnam.


The Vietnamese Ministry of Industry estimates that the beer market in Vietnam
has grown from 13 million hectolitres in 2003 to 15 million hectolitres in 2005.
The Vietnamese beer market is one of the fastest growing beer markets in the
world and is considered to have favourable future prospects.  The transaction
reflects SABMiller's continued strategy to enter high growth developing beer
markets.


The joint venture will initially focus on developing a Vietnamese mainstream
brand which will be complemented by a premium brand from the SABMiller portfolio
of international brands.  The joint venture will firstly concentrate on serving
the local market in southern Vietnam, but plans to expand nationally in due
course.


Andre Parker, SABMiller's Africa & Asia managing director, commented:


'We are delighted to have reached agreement with Vinamilk to enter the high
growth Vietnamese beer market. Vinamilk has an extensive distribution network,
which will give us access to more than 20,000 outlets in southern Vietnam which
retail beer.  We believe that the combination of both parties' expertise will
result in a very successful venture'.


Mai Kieu Lien, Vinamilk's general director, commented:


'With SABMiller's experience in beer markets and Vinamilk's knowledge of
Vietnam, we believe that the joint venture will be extremely successful and will
make a considerable contribution to our society.'


Ends


Notes to editors


SABMiller

SABMiller plc is one of the world's largest brewers with brewing interests or
distribution agreements in over 60 countries across five 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 2005, the group reported US$2,194 million pre-tax
profit and a turnover of US$14,543 million on a UK GAAP basis.  SABMiller plc is
listed on the London and Johannesburg stock exchanges.


This announcement is available on the company website: www.sabmiller.com


High resolution images are available for the media to view and download free of
charge from: www.vismedia.co.uk


Vietnam Dairy Products Joint Stock Company ('Vinamilk')


Vinamilk is the leader in the Vietnamese dairy products market, with its
distribution network in all of the 64 provinces of Vietnam. The company has been
voted first in the 'Top Ten Vietnamese High-quality Goods' survey by consumers
since 1995.


Vinamilk has achieved growth of over 20% in recent years. In 2005 the company
generated US$355 million turnover and an after-tax profit of US$38 million.


Vinamilk is scheduled to list on the Ho Chi Minh City securities exchange before
the end of January 2006.


Enquiries:

                             SABMiller plc                Tel: +44 20 7659 0100

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

Gary Leibowitz     Vice President, Investor Relations     Tel: +44 20 7659 0174

James Crampton     Media Relations Manager                Tel: +44 20 7659 0172


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 performance.


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

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