Offer Update

19 July 2011

Greene King plc ("Greene King")

Share purchases take interests in The Capital Pub Company Plc ("Capital Pubs") to 46.1 per cent.

Greene King announces that it has today acquired, subject to settlement, a total of 2,914,819 Capital Pubs Shares, representing approximately 10.8 per cent. of the issued share capital of Capital Pubs. The Capital Pubs Shares were acquired at a price of 235 pence per share.

In addition, Greene King has received an irrevocable undertaking from Unicorn Asset Management Limited ("Unicorn") to accept the Greene King offer announced on 19 July 2011 in respect of the 440,000 ordinary shares in Capital Pubs held by Unicorn representing approximately 1.6 per cent of the total issued share capital of Capital Pubs (the "Unicorn Irrevocable"). The Unicorn Irrevocable will cease to be binding in the event of an offer for the ordinary share capital of Capital Pubs being made by another party which has a value in excess of 249.1 pence per Capital Pubs Share.

Such Capital Pubs Shares and the Unicorn Irrevocable, together with the Capital Pubs Shares which are the subject of the irrevocable undertakings received from the Capital Pubs Directors and Capital Pubs Shareholders to accept (or procure the acceptance of) the Offer, as announced earlier today, represent in aggregate approximately 46.1 per cent. of the current issued share capital of Capital Pubs.

Terms herein have the same meaning as in the announcement of the Offer dated 19 July 2011, save where the context requires otherwise.

ENQUIRIES

For further information contact:

Disclosure requirements of the Takeover Code (the 'Code')

Under Rule 8.3(a) of the Code, any person who is interested in 1 per cent. or more of any class of relevant securities of Capital Pubs must make an Opening Position Disclosure following the commencement of the offer period. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of Capital Pubs. An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement of the offer period. Relevant persons who deal in the relevant securities of Capital Pubs prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1 per cent. or more of any class of relevant securities of Capital Pubs must make a Dealing Disclosure if the person deals in any relevant securities of Capital Pubs. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of Capital Pubs, save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing.

If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of Capital Pubs, they will be deemed to be a single person for the purpose of Rule 8.3.

Opening Position Disclosures and Dealing Disclosures must also be made by Capital Pubs, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).

Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. If you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure, you should contact the Panel's Market Surveillance Unit on +44 (0)20 7638 0129.

The defined terms used in this section "Dealing Disclosure Requirements" are defined in the Code which can be found on the Panel's website.

This announcement will be available on Greene King's website at www.greeneking.co.uk by no later than 12 noon on 20 July 2011.