Appointment of Special Committee of Directors of Asia Pacific Breweries Limited

Asia Pacific Breweries Limited ("APBL") wishes to announce that Mr Chia Teck Leng, an employee of the Company, has been charged in the Subordinate Courts today. Mr Chia is suspected of unauthorized opening and operating of bank accounts in the name of Asia Pacific Breweries (Singapore) Pte Ltd ("APBS"), a subsidiary company, during his tenure as Finance Manager of APBS. Mr Chia has been suspended pending investigations.

Steps have been taken to freeze the unauthorized accounts.

A special committee of directors, comprising Mr Lee Yong Siang, Chairman of Audit Committee of the Board of APBL, Mr Goh Yong Hong, another member of the Audit Committee (both being independent directors) and Mr David Hazelwood, has been appointed to oversee investigations and take any necessary actions.

The Company has also appointed PricewaterhouseCoopers and Drew & Napier to undertake the following:

• Identify the nature, circumstances and extent of any unauthorized transactions;
• Quantify the financial impact of such unauthorized transactions;
• Assist the company in taking the necessary action to prevent such unauthorized transactions; and
• Subsequently, to conduct a review of the system of internal control and procedures to prevent the occurrence of such unauthorized transactions in the future.

Submitted by Anthony Cheong, Company Secretary on 4/9/2003 to the SGX