Fraser and Neave Holdings Berhad Announces Appointment of New Chief Executive Officer

Thursday, 1 March 2001 -- The Company announces that its subsidiary, Fraser & Neave Holdings Berhad ("F&N Holdings") has appointed Tan Ang Meng, age 45, as Chief Executive Officer. A certified public accountant and a Malaysian citizen, Mr Tan started his career in Price Waterhouse, Kuala Lumpur. He brings to the Group valuable experience in food and beverage operations, having worked with the then Guinness Malaysia Berhad (now Guinness Anchor Berhad) for seven years prior to joining the Asia Pacific Breweries Group in 1991. His appointment will take effect on 27 March 2001.

Mr Tan has held various senior positions in the Asia Pacific Breweries Group, including Finance Manager of the Papua New Guinea operations based in Port Moresby; General Manager, Group Finance based in Singapore; Chief Operating Officer of the Singapore Brewery operations; and Chief Executive Officer of the Groupaas operations in Papua New Guinea (which included beer, soft drinks and dairy products). Until his new appointment, he was Regional Director of the Asia Pacific Breweries Group, responsible for the Groupaas businesses in Vietnam, Cambodia, China and Papua New Guinea.

Mr Tan is a member of the Malaysian Association of Certified Public Accountants.