APBS Rejects Claims Made by SEB and Mizuho

Enclosed, for information, is a copy of a Press Statement issued by Asia Pacific Breweries Limited relating to its subsidiary company.

MEDIA RELEASE

APBS Rejects Claims Made by SEB and Mizuho

Asia Pacific Breweries (Singapore) Pte Ltd (APBS) is aware of a press statement issued by Skandinaviska Enskilda Banken AB's (SEB) lawyers that SEB has commenced legal proceedings against APBS.

APBS confirms that it has been served a Writ of Summons by SEB, as well as a second Writ from Mizuho Corporate Bank Ltd (Mizuho). APBS has been expecting these actions for some time as these banks have been threatening to sue since 2003. It is interesting that it has taken the banks so long to sue.

As APBS has said before, it is confident of its position and will vigorously defend the claims in Court. This is an opportunity for the Courts and the public to finally find out why the banks granted these loans.

This is a legal dispute. Like APBS, the banks should focus on fighting the matter in Court rather than through the media.

For enquiries, please contact:
Sarah Koh
Group Corporate Communications
Asia Pacific Breweries Ltd
Tel : 62775059

Submitted by Anthony Cheong Fook Seng, Company Secretary on 24/09/2004 to the SGX