Incorporation of a wholly-owned subsidiary, CPL Choa Chu Kang Pte Ltd

10 December 2002

Pursuant to Rule 704(15)(c) of the Listing Manual, Fraser and Neave Limited announces that its subsidiary, Centrepoint Properties Ltd has incorporated a wholly-owned subsidiary named CPL Choa Chu Kang Pte Ltd with an authorised capital of S$100,000 and a paid up capital of S$2.

Submitted by Anthony Cheong Fook Seng, Company Secretary on 10/12/2002 to the SGX