Business Times Article on Tuesday, 12 June 2001 titled "APB may restart stalled Vietnam brewery project"

We refer to the article in The Business Times dated 12 June 2001 titled "APB may restart stalled Vietnam brewery project".

The brewery project in Vietnam refers to the new brewery at Hatay, owned by Hatay Brewery Limited, of which the Company holds 60.1 percent of the registered capital. We had, in the Companyaas 1999 Annual Report, reported that all civil works for the new brewery were completed, although brewing operations would only commence when sales volume improved significantly. A study is presently being conducted to re-evaluate the feasibility of commissioning the brewery operations.

To date, the Company has invested US$20 million on the civil works. Completing the project will cost a further US$50 million approximately. On commencement of brewery operations, Hatay Brewery Limited will be able to produce 400,000 hectolitres of beer annually, with capacity to increase output to one million hectolitres.

We also wish to clarify that barring unforeseen circumstances, the targeted 10 percent return on equity referred to in the article (that is, targeted net attributable earnings, before exceptional items, of 27 cents per share) would appear to be achievable in the near term.

Yours sincerely
ASIA PACIFIC BREWERY LIMITED
I A MacLean
Company Secretary

Submitted by I A MacLean, Company Secretary on 14/06/2001 to the SGX