Fraser and Neave Limited - Audit Committee

In consequence of the retirement of Dato Dr Yahya Ismail from the Board of Directors on 22 February 2001, he ceased to be a member of the Audit Committee. Mr Lee Ek Tieng has been appointed in his place as a member of the Audit Committee with immediate effect. The composition of the Audit Committee is now:-

Mr Fock Siew Wah (Chairman)
Mr Stephen Lee Ching Yen
Mr Lee Ek Tieng

All are independent directors as defined in Clause 902(4)(a) of the Listing Manual.