Marstons Regulatory News (MARS)

Notification of interests of directors

24 June 2011

The Company announces that on 24 June 2011 the Directors listed below were granted awards over ordinary shares in the Company under the Company's 2004 Long Term Incentive Plan with HM Revenue & Customs (HMRC) Approved Schedule (the "Plan"). Previously, nil cost options have been granted under the 2004 Long Term Incentive Plan ("LTIP Awards").

Awards under the Plan are structured as Approved Performance Share Plan Awards ("APSP Awards") and comprise three elements: (i) an HMRC Approved Option over shares with a total value at the date of grant of £30,000 with an exercise price of 97.5 pence per share; (ii) a "Linked Award" which is, principally, a funding award in the form of a nil cost option (i.e. in the form of an LTIP Award) over such number of shares whose total value at exercise equals £30,000; and (iii) an LTIP Award in the form of a nil cost option over shares to the value of the remainder of the APSP Award above the £30,000 limit.

Subject to the satisfaction of the performance conditions which are based on EPS growth; the APSP Awards will vest and become exercisable in three years.

In addition to satisfaction of these performance conditions, the Approved Option will only become exercisable if the market value of a share at exercise is greater than 97.5 pence per share.

If the market value at exercise is less than 97.5 pence per share, the Approved Option will lapse and the maximum number of shares subject to the Linked Award will become available to the participant to exercise as an unapproved LTIP option.

The Approved Options have been granted "in parallel" to Approved Options granted to the participants in 2010. A participant will only be able to exercise the Approved Option granted to him on 24 June 2011 if the Approved Option granted to him in 2010 has lapsed or been released. If the participant exercises the Approved Option granted to him in 2010, the Approved Option granted to him on 24 June 2011 shall lapse.

The notification of these transactions is made pursuant to DTR 3.1.4R (1)(a) and is also deemed to be disclosure made in accordance with Section 793 of the Companies Act 2006 where appropriate.

Enquiries: Anne-Marie Brennan, Company Secretary, Marston's PLC, +44 (0) 1902 329163