Director/PDMR Shareholding

Punch Taverns plc (the "Company")

24 October 2013

NOTIFICATION OF DIRECTOR SHAREHOLDING

Long Term Incentive Plan 2008 (the "Plan") 

On 24 October 2013, in accordance with the rules of the Plan, the Remuneration Committee granted Options over 1,896,551 Ordinary Shares of 0.04786p each, at a price of 14.5 pence per share, to the Finance Director.

The exercise price payable to exercise the Options shall be £1. The Options will normally be exercisable between 24 October 2016 and 24 October 2023 subject to the option holder's continued employment and to the extent that Total Shareholder Return ("TSR") targets are met.

Share Bonus Plan (the "Bonus Plan")

On 24 October 2013, in accordance with the rules of the Bonus Plan, the Company granted a deferred share award (the "Award") totalling 135,605 Ordinary Shares of 0.04786p each ("Ordinary Shares"), at a price of 14.25 pence per share (the closing share price on 23 October 2013), to the Finance Director.

The Award forms part of the annual bonus arrangements for the financial year ended 17 August 2013 and is not subject to further performance criteria. Subject to the rules of the Bonus Plan, the Award will be satisfied by the transfer of Ordinary Shares to the individual from the Company's Employee Benefit Trust on the second anniversary of the Award.

Discretionary Share Plan (the "DSP")

The holders of all remaining options granted under the legacy DSP, totalling options over 23,664 Ordinary Shares, have waived their rights to these options and as a result there are no longer any awards outstanding in respect of the DSP. This includes the options over 3,859 Ordinary Shares previously held by the Finance Director.

The issued share capital of the Company is currently 665,513,542 Ordinary Shares.

Ed Bashforth

Company Secretary

Punch Taverns plc

01283 502215