Acquisition of Kenton Assets Limited

Pursuant to Rule 704(15) of the Listing Manual, Fraser and Neave, Limited announces that its subsidiary Asia Pacific Investment Pte Ltd has acquired the entire issued share capital of Kenton Assets Limited ("KAL") for US$1, being the paid-up capital of KAL, for the purpose of investment holding. KAL is a company incorporated in the British Virgin Islands.

The acquisition is not expected to have a material effect on the net tangible assets per share or earnings per share of the Group for the current financial year.

None of the Directors or controlling shareholders of the Company has any interest, direct or indirect, in the acquisition.