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SABMiller PLC - Holding(s) in Company

RNS Number:6115I
SABMiller PLC
21 February 2005


                                 SABMiller plc

                 Conversion of Convertible Participating Shares


21 February 2005:


SABMiller plc ('SABMiller') announces that the Board of Directors of SABMiller
determined at its meeting on 18 February 2005, pursuant to a request from Altria
Group, Inc. ('Altria') to convert 27,640,206 low-voting convertible
participating shares held by Altria into the same number of ordinary shares of
US$0.10 each in SABMiller.


On 9th December 2004 SABMiller exercised its right to call for the redemption of
its US$600m 4.25% convertible bonds and, following the exercise by bondholders
of their conversion rights, all bonds were converted into SABMiller ordinary
shares, resulting in the issue of 69,057,717 new shares. This, combined with the
issuance of shares relating to share options, diluted Altria's voting interest
to 23.28%.


In accordance with its rights under the Relationship Agreement between SABMiller
and Altria, Altria has elected to request SABMiller to convert sufficient low
voting convertible participating shares into ordinary shares to reinstate its
voting interest to 24.99%.


An application for the new shares to be admitted to listing on the Official List
and to trading on the London Stock Exchange will be made today.  The resulting
ordinary shares will be registered in the name of Altria.


Following the conversion, Altria holds 262,588,976 ordinary shares and
167,411,024 convertible participating shares in SABMiller, which together give
Altria an aggregate voting interest of 24.99% in SABMiller. A separate formal
notice relating to Altria's notifiable interest will be issued by SABMiller.


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

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