F&NL - Acquisition of Able Win Gain 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 Able Win Gain Limited (!° AWGL !ą), a company incorporated in the British Virgin Islands, for a nominal consideration of US$1 for the purpose of investment holding.

AWGL was incorporated on 18 January 2008, has a nominal paid-up share capital of US$1 and has not carried on any business since its incorporation.

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.


Anthony Cheong Fook Seng
Group Company Secretary

3 March 2008