Sale of Coca-Cola Amatil Shares

We refer to press comments made to-day in respect of our interest in shares of Coca-Cola Amatil Ltd, Australia.

It is confirmed that yesterday we sold, at A$5.25 per share, 24 million shares in Coca-Cola Amatil out of our total holding of approximately 57 million shares. The net proceeds of the transaction will be approximately S$117.3 million. It is not planned to dispose of the balance of our holding of Coca-Cola Amatil shares for the time being.

This disposal is part of an asset realisation programme referred to in our announcement of 16 August 2001 in relation to the Companyaas buying back of a portion of its issued share capital. The realisation programme will not materially affect net tangible assets or earnings per share in the current financial year which ends 30 September 2001.

No director or substantial shareholder has an interest in this transaction.

Yours sincerely
FRASER AND NEAVE, LIMITED
I A MacLean
Director/Company Secretary