Results of Extraordinary General Meeting held on 29 July 2003

PROPOSED CAPITAL REDUCTION EXERCISE AND CASH DISTRIBUTION TO SHAREHOLDERS

The Directors wish to announce that at the Extraordinary General Meeting of the Company held on 29 July 2003, the resolutions in relation to the F&N Pro Rata Capital Reduction and the F&N Selective Capital Reduction as set out in the Notice of Meeting dated 4 July 2003 were duly passed.

Submitted by Anthony Cheong Fook Seng, Group Company Secretary on 29/7/2003 to the SGX