12/17/2007 15:00 

This announcement refers to today's announcement from The Takeover Panel London (enclosed).

Carlsberg and Heineken (the “Consortium”) note the Takeover Panel's recent announcement.

Carlsberg and Heineken said:  "We welcome the introduction of a timetable. It will focus all parties on the merits of our proposal and consequences of S&N shareholders missing out on a value creating transaction.  We urge S&N to open talks with us as soon as possible so we can agree the terms of a formal recommended offer, by the deadline of 12 noon on 21 January 2008."

This announcement does not constitute an announcement of a firm intention to make an offer under Rule 2.5 of the Code. There can be no certainty that any offer will be made even if the pre-conditions to our proposal (all of which are waivable) are satisfied or waived.



Public relations advisers to the Consortium

Finsbury Group                                    Tel: +44 20 7251 3801

James Leviton

Guy Lamming                       



Jens Peter Skaarup (Danish Media)           Tel: +45 3327 1417              

Mikael Bo Larsen (Investor Relations)        Tel: +45 3327 1223


Financial adviser and Corporate Broker to the Consortium and to Carlsberg

Lehman Brothers                                   Tel: +44 20 7102 1000

Adrian Fisk

Henry Phillips

Ed Matthews (Corporate Broking)


Financial adviser and Corporate Broker to the Consortium and to Heineken

Credit Suisse                                           Tel: +44 20 7888 8888

Bertrand Facon

Stuart Upcraft

James Leigh Pemberton (Corporate Broking)