Six Continents Demerger Effective

All the conditions to the demerger and the creation of two separately
listed companies, InterContinental Hotels Group PLC (?IHG?) and Mitchells &
Butlers PLC (?MAB?), have now been satisfied.
Consequently, trading in IHG and MAB shares is expected to commence on the
London Stock Exchange at 8.00am (BST) today. Trading in the American
depositary shares of IHG and MAB is expected to commence on the New York
Stock Exchange at 9.30 am EST (2.30 pm BST) today.

IHG and MAB shares will be listed on the London Stock Exchange and IHG and
MAB American depositary shares will be listed on the New York Stock
Exchange under the following symbols:

InterContinental Hotels Group PLC - LSE:IHG, NYSE:IHG
Mitchells & Butlers plc - LSE:MAB, NYSE:MLB
IHG will succeed to Six Continents? registration under the U.S. Securities
Exchange Act of 1934 pursuant to Section 12(g) of the Act.

Shareholders will, on 23 April 2003, be sent share certificates in respect
of their holdings in IHG and MAB as well as a cheque in respect of the
return of capital (81 pence for every Six Continents share held on 11 April
2003) and in respect of any entitlement to any fraction of an MAB and IHG
share. CREST accounts will be credited with the return of capital on 23
April 2003.
InterContinental Hotels Group PLC of the United Kingdom owns, manages,
leases or franchises more than 3,300 hotels and approximately 515,000 guest
rooms in nearly 100 countries and territories around the world
( The Group owns a portfolio of well
recognised and respected hotel brands including InterContinental Hotels &
Resorts, Crowne Plaza Hotels & Resorts, Holiday Inn, Express by Holiday Inn
and Staybridge Suites, and also has a controlling interest in Britvic Soft
Drinks Limited, the second largest soft drinks manufacturer by volume in
the UK.
InterContinental Hotels Group offers information and reservations
capability on the Internet ? for
InterContinental Hotels & Resorts, for Crowne
Plaza Hotels & Resorts, for Holiday Inn hotels, for Express by Holiday Inn hotels, for Staybridge Suites by Holiday Inn hotels and
for the Group?s rewards programme,