03 Jan 2008

Scottish & Newcastle welcomes 3 July 2008 date for Arbitration Award

Further to previous announcements, Scottish & Newcastle plc is pleased to report that it has been advised by The Arbitration Institute of The Stockholm Chamber Of Commerce that the dispute between S&N and Carlsberg over the Baltic Beverages Holding (BBH) Shareholders' Agreement will be resolved by early July 2008.

The Arbitration Institute of the Stockholm Chamber of Commerce today wrote to the various parties confirming payment of fees and the formal commencement of the arbitration process between Hartwall and Pripps-Ringes, the wholly-owned subsidiaries of S&N and Carlsberg respectively that are the joint owners of BBH. The letter concludes "The final award shall be made by 3 July, 2008."

End

For information, please contact:

As required by the Takeover Code, S&N confirms that this announcement is not being made with the agreement or approval of Carlsberg or Heineken. For the avoidance of doubt, there can be no certainty that this approach will lead to an offer being made for S&N or as to the terms on which any offer might be made.

FIH Partners is advising S&N in regard to BBH. UBS, Deutsche Bank and Rothschild are advising the Company on all financial matters.

Under the provisions of Rule 8.3 of the Takeover Code (the "Code"), if any person is, or becomes, "interested" (directly or indirectly) in 1% or more of any class of "relevant securities" of Scottish & Newcastle plc, all "dealings" in any "relevant securities" of that company (including by means of an option in respect of, or a derivative referenced to, any such "relevant securities") must be publicly disclosed by no later than 3.30 pm (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period" otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an "interest" in "relevant securities" of Scottish & Newcastle plc, they will be deemed to be a single person for the purpose of Rule 8.3.

Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant securities" of Scottish & Newcastle plc by Carlsberg A/S or Heineken N.V. or Scottish & Newcastle plc, or by any of their respective "associates", must be disclosed by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction. A disclosure table, giving details of the companies in whose "relevant securities" "dealings" should be disclosed, and the number of such securities in issue, can be found on the Takeover Panel's website at www.thetakeoverpanel.org.uk.

"Interests in securities" arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an "interest" by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities.

Terms in quotation marks are defined in the Code, which can also be found on the
Panel's website. If you are in any doubt as to whether or not you are required
to disclose a "dealing" under Rule 8, you should consult the Panel.

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