Appointment of Director

The Directors of Fraser and Neave, Limited are pleased to announce the appointment today of Mr Nicky Tan Ng Kuang as a director of the Company.

Mr Tan is a member of the Institute of Chartered Accountants in England and Wales and a Practicing Member of the Institute of Certified Public Accountants in Singapore and currently runs nTan Corporate Advisory Pte Ltd.

He brings a wealth of corporate finance experience from his years as a partner and Head of Financial Advisory Services in public accounting firm PricewaterhouseCoopers and as partner and Head of Global Corporate Finance in Arthur Andersen Singapore & ASEAN region

Mr Tan is also a director of Singapore Telecommunications Limited. Further details are contained in the attached.

Submitted by Anthony Cheong Fook Seng, Group Company Secretary on 21/10/2003 to the SGX