Carlsberg notes the announcement earlier today by S&N regarding the timetable for the arbitration proceedings in Sweden. Carlsberg confirms Pripps Ringnes Ab has also received a routine letter from The Arbitration Institute of the Stockholm Chamber of Commerce which includes a reference to its standard timetable of 3 July 2008 for a final award. Carlsberg would welcome an early resolution to the arbitration proceedings. However, Pripps-Ringnes continues to be advised by its Swedish legal adviser, Vinge, that the standard timetable is routinely extended and in practice cases of this nature typically take in excess of 12 months to reach a conclusion. Enquiries Public relations advisers to Carlsberg and to the Consortium Finsbury Group Tel: +44 20 7251 3801 James Leviton Guy Lamming Carlsberg: Jens Peter Skaarup (Danish Media) Tel: +45 3327 1417 Mikael Bo Larsen (Investor Relations) Tel: +45 3327 1223 Financial adviser and Corporate Broker to Carlsberg and to the Consortium Lehman Brothers Tel: +44 20 7102 1000 Adrian Fisk Henry Phillips Ed Matthews (Corporate Broking) Lehman Brothers Europe Limited, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively as financial adviser and corporate broker to the Consortium and Carlsberg and no one else in connection with the possible offer referred to in this announcement and will not be responsible to anyone other than the Consortium and Carlsberg for providing the protections afforded to clients of Lehman Brothers Europe Limited nor for providing advice in relation to this announcement or any matter referred to herein. Dealing Disclosure Requirements 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 S&N 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until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period" otherwise ends.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 S&N 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 S&N plc by Carlsberg or Heineken or S&N, 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. This announcement is not intended to and does not constitute or form part of an offer or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote or approval in any jurisdiction. Carlsberg is one of the leading brewing groups in the world, with a large portfolio of beer and soft drinks brands. Its flagship brand - Carlsberg - is one of the fastest-growing and best-known beer brands in the world. More than 30,000 people work for Carlsberg at 92 local production sites in 48 countries, and its products are sold in more than 150 markets. In 2006 Carlsberg sold more than 100 million hectolitres of beer, which is about 83 million bottles of beer a day. Find out more at www.carlsberggroup.com.
CARLSBERG RESPONSE TO STATEMENT BY SCOTTISH & NEWCASTLE PLC ("S&N") REGARDING SWEDISH ARBITRATION PROCEEDINGS
| Source: Carlsberg A/S