Group Deputy Chief Executive Officer/Deputy Chairman

Fraser and Neave, Limited ("F&NL") is pleased to announce that with effect from 1 October 2004 Dr Han Cheng Fong, Managing Director of Fraser and Neave Group ("F&N Group"), will be designated also as Group Deputy Chief Executive Officer, with the responsibilities of supervising all operational activities of the F&N Group.

Also with effect from 1 October 2004, Mr Fock Siew Wah, Deputy Chairman of the F&NL Board, will also assume a larger role in the supervision of the Group's corporate affairs.

Dr Han, aged 62 years, was appointed a director of Centrepoint Properties Ltd ("CPL"), a subsidiary of the Company, on 6 November 2000 and Deputy Chairman of CPL on 30 April 2001. He was subsequently also appointed a Director of F&NL and to the executive position of Joint Managing Director with effect from 1 April 2002.

Before joining the F&NL Group, he had been Deputy Chairman and Group CEO of DBS Land.

Dr Han already represents the interests of the F&NL Group on a number of boards, including Asia Pacific Breweries Limited, Fraser & Neave Holdings Bhd, Vision Century Corporation Ltd and Kingway Brewery Holdings Ltd.

Submitted by Anthony Cheong Fook Seng, Group Company Secretary on 30/09/2004 to the SGX