Acquisition of approximately 25.8% Shareholding Interest in Fairbriar Plc

Pursuant to Rule 704(15)(c) of the Listing Manual, Fraser and Neave, Limited announces that CPL (UK) Pte Ltd, a subsidiary of its wholly-owned subsidiary Centrepoint Properties Ltd, has acquired an aggregate of 9,110,680 shares (the "Shares") representing approximately 25.8% interest in the issued share capital of Fairbriar Plc ("Fairbriar"), at an aggregate consideration of approximately L4.555 million. The consideration was arrived at after taking into account the market value of the Shares and will be payable in cash on settlement. The consideration will be met from internal resources.

Fairbriar is a company listed on the London Stock Exchange. Its principal activities are the development, investment and management of residential properties in the United Kingdom. The investment in Fairbriar is a long term investment.

The transaction is not 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 transaction.

Submitted by Anthony Cheong Fook Seng, Group Company Secretary on 8/9/2004 to the SGX