Sale Of Unit In Property Project Known As Soleil @ Sinaran

Fraser and Neave, Limited (the "Company") wishes to announce the sale of one (1) unit in the residential development located at Sinaran Drive (Lot 931T of Town Subdivision 29), to relatives of Mr Lee Hsien Yang, Chairman of the Company. The development is being carried out by Riverside Investments Pte Ltd, a wholly-owned subsidiary of Frasers Centrepoint Limited, which is in turn a subsidiary of the Company.

The details of the sale are as follows:

The abovenamed purchasers were walk-in customers during the public sale following the sales preview which had been open to invited guests at the time of the launch. The purchasers enjoyed no more favourable purchase terms than were available to other members of the public at the time of the sale. No discount was given and the price was based on the prevailing approved price list in effect at the time of sale. The relationship was reported only after the option to purchase had been granted, as part of the usual declarations required of purchasers by the Company.

The Audit Committee is satisfied that the number and terms of the sale are fair and reasonable, and the Audit Committee and Board are satisfied that the terms of the sale are not prejudicial to the interests of the Company and its minority shareholders.

Anthony Cheong
Group Company Secretary
25 January 2008