Notice of Changes in Substantial Shareholder's Interests

Name of substantial shareholder : Inscribe Investments Limited

Date of notice to company : 3/10/2002

Date of change of interest : 2/10/2002

Name of registered holder : Inscribe Investments Limited

Circumstance(s) giving rise to the interest : Sales in open market at own discretion

INFORMATION RELATING TO SHARES HELD IN THE NAME OF THE REGISTERED HOLDER :-

No of shares which are the subject of the transaction : 241,000
% of issued share capital : 0.09

Amount of consideration (excluding brokerage and stamp duties) per share paid or received : S$7.80

No of shares held before the transaction : 19,719,800
% of issued share capital : 7.3858

No of shares held after the transaction : 19,478,800
% of issued share capital : 7.2955

HOLDINGS OF SUBSTANTIAL SHAREHOLDER, INCLUDING DIRECT AND DEEMED INTEREST :-

No of shares held before the transaction :
- Deemed : -
- Direct : 19,719,800
% of issued share capital : 7.3858

No of shares held after the transaction :
- Deemed : -
- Direct : 19,478,800
% of issued share capital : 7.2955

The percentages represent the proportion of Fraser and Neave Limitedaas share capital at the date hereof (namely $266,996,392).

Submitted by Anthony Cheong, Company Secretary on 3/10/2002 to the SGX