Baltic Beverages Holding AB (BBH) invests in the private-owned Olivaria Brewery situated in the centre of Minsk, Belarus, in line with its strategy of entering growth markets.

Belarus has a population of circa 10 million and current beer consumption of circa 33 litres per capita. BBH believes, that with a growing economy and rising beer consumption, this market has strong future potential.

Olivaria Brewery was established in 1864, it has a market share of approximately 10%, brewing capacity of 400 thousand hectolitres and 600 employees. Olivaria is one of the most recognised brands in Belarus. The brewery plans to increase capacity to 600 thousand hectolitres in 2007.

The European Bank for Reconstruction and Development (EBRD) has been a major shareholder in Olivaria since 2005. As part of the continuing development of the business the current shareholders have been looking for an international partner. BBH has subscribed 30% new shares in the company. After the capital increase EBRD will have 21% of the shares.

BBH is already active in Belarus through exports from Baltika in Russia.

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Baltic Beverages Holding AB (BBH) is a 50:50 owned joint venture between Carlsberg A/S and Scottish & Newcastle plc. BBH operates 19 breweries in seven countries in Eastern Europe, including Russia where it is the market leader with a 36% market share.

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ENQUIRIES TO:

Carlsberg A/S:
Jens Peter Skaarup, International Media Relations Manager +45 33 27 14 17
Mikael Bo Larsen, Director of Investor Relations +45 33 27 14 10

Scottish & Newcastle plc:
Nadja Schäufele, Head of Investor Relations (investors) +44 131 203 2000
John Kiely, Smithfield Financial (media) +44 207 360 4900

BBH:
Saulius Galadauskas, Corporate Affairs +370 61 11 60 46
Sam VanDerlip, the PBN Company