Press Releases

Press Releases

Incorporation of Subsidiary

Pursuant to Rule 704(15)(c) of the Listing Manual, Fraser & Neave, Limited (the "Company") announces that Times Printers Private Limited, a wholly-owned subsidiary of the Company's subsidiary, Times Publishing Limited ("TPL"), has incorporated a 51%-owned subsidiary in Singapore named Goodwill Binding Pte Ltd, with an issued share captial of S$51 million. It is envisaged that this company will carry on the business of bookbinding, which is complementary to the existing business of TPL.

Anthony Cheong Fook Seng
Company Secretary

25 January 2008