Scottish and Newcastle plc

1. Description of merger: Scottish & Newcastle plc, Courage Ltd and Fosters Brewing Group Ltd

2. Date of original undertakings: Press release: 14 August 1995

3. Companies giving undertakings: Scottish and Newcastle

4. Details of undertakings: Divestment undertakings

Behavioural undertakings

(i) Within one year reduce the size of S&N's tied estate of pubs to 2,624 - 115 below the permitted maximum allowed by the Supply of Beer (Tied Estate) Order 1989 - this ceiling to be reviewed after no more than three years.

(ii) To release 1,000 of Inntrepreneur Pub Company Ltd's ('IPCL') tied pubs from the beer supply agreement between Fosters (50% owners of IPCL) and Courage, due to end on 28 March 1998; 500 pubs to be released by 1 January 1996, and a further 500 by 1 January 1997, the supply of beer to such pubs being put out to open competitive tender from which S&N and Courage would not be excluded.

5. Date of amendments: N/A

6. SIC code: 15.96 (Manufacture of beer)

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