Notice of Changes in Substantial Shareholder's Deemed Interests

Name of substantial shareholder : BIL International Limited

Date of notice to company : 27/9/2002

Date of change of interest : 24/9/2002

Name of registered holder : Inscribe Investments Limited

Circumstance(s) giving rise to the interest : Sales in open market at own discretion

INFORMATION RELATING TO SHARES HELD IN THE NAME OF THE REGISTERED HOLDER :-

No of shares which are the subject of the transaction : 90,000
% of issued share capital : 0.034

Amount of consideration (excluding brokerage and stamp duties) per share paid or received : S$7.80

No of shares held before the transaction : 20,218,800
% of issued share capital : 7.573

No of shares held after the transaction : 20,128,800
% of issued share capital : 7.539

HOLDINGS OF SUBSTANTIAL SHAREHOLDER, INCLUDING DIRECT AND DEEMED INTEREST :-

No of shares held before the transaction :
- Deemed : 20,218,800
- Direct : -
% of issued share capital : 7.573

No of shares held after the transaction :
- Deemed : 20,128,800
- Direct : -
% of issued share capital : 7.539

The percentages represent the proportion of Fraser and Neave Limitedaas share capital at the date hereof (namely $266,982,132).

Submitted by I A MacLean, Director/Company Secretary on 27/9/2002 to the SGX