Acquisition of a 37.5% Shareholding Interest in Fairpoint Properties (Vincent Square) Limited by CPL and Establishment of a Joint Venture Company known as CPL (NZ) Pte Ltd

Acquisition of a 37.5% Shareholding Interest in Fairpoint Properties (Vincent Square) Limited by Centrepoint Properties Ltd

Pursuant to Clause 704(15)(c) of the Listing Manual, Fraser and Neave Limited announces that the Company’s wholly-owned subsidiary Centrepoint Properties Ltd, has through CPL (UK) Pte Ltd (a company in which Centrepoint Properties Ltd holds 75% shareholding interest), acquired 50% of the shares in Fairpoint Properties (Vincent Square) Limited. Fairpoint Properties (Vincent Square) Limited is a company registered in England with an issued and paid-up capital of L2, and is engaged in the business of acquisition and development of property in London, United Kingdom.

Establishment of a Joint Venture Company known as CPL (NZ) Pte Ltd

Pursuant to Rule 703(4) and paragraph 8(a) of Appendix 7.1 of the Listing Manual, Fraser and Neave Limited announces that the Company’s wholly-owned subsidiary, Centrepoint Properties Ltd, has entered into a joint venture (the "Joint Venture") with Region Development Pte Ltd to establish a joint venture company in Singapore known as CPL (NZ) Pte Ltd (the "JVC"), which will increase its issued and paid-up capital from $2 to $100.

Under the terms of the Joint Venture, CPL will hold 75% shareholding interest and RDPL will hold 25% shareholding interest in the JVC.

The JVC will carry on the business of property development and investment in New Zealand. In this connection, the JVC has subscribed for 24.9% of the shares in Palo Cedro (Papamoa) Limited, a company incorporated in New Zealand.

Neither of the above transactions is expected to have any material effect on the net tangible assets per share or earnings per share of the Company for the current financial year.

None of the directors or substantial shareholders of the Company has any interest, directly or indirectly, in the transactions.