Heineken N.V. ("Heineken") and Carlsberg A/S ("Carlsberg")
Clarification
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN,
INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS IN THAT JURISDICTION
Amsterdam, 10 December 2007 - Heineken and Carlsberg (the
"Consortium") notes recent media reports and confirms that, whilst it
has no plans to raise its proposal above 750 pence, it wishes to
re-confirm that it reserves the right to increase its proposal should
it so decide. The Consortium reiterates that its proposal to acquire
Scottish & Newcastle plc ("S&N") for 750 pence per share in cash
delivers full and fair value and is at a level substantially in
excess of the standalone independent value of S&N.
The Consortium continues to seek engagement with the board of S&N to
convert the proposal into a firm offer. Whilst the Consortium retains
the right to improve its proposal, there can be no certainty that it
will do so, or that any offer will be made.
This announcement does not constitute an announcement of a firm
intention to make an offer under Rule 2.5 of the Code.
Press enquiries
Véronique Schyns
Tel: +31 (0)20 52 39 355
veronique.schyns@heineken.com
Investor and analyst enquiries
Jan van de Merbel
Tel: +31 (0)20 52 39 590
investors@heineken.com
