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Acquisition of Remaining Shares in JCS Digital Solutions Pte Ltd - Completion

Times Publishing Group

All capitalised terms used in this Announcement shall, unless otherwise defined herein, have the meaning ascribed to them in the announcement of Fraser and Neave, Limited (the "Company") on 21 December 2011 (the "Initial Announcement") in relation to the acquisition by Times Printers Private Limited of the remaining 49% of the issued share capital of JCS Digital Solutions Pte Ltd.

Further to the Initial Announcement, the Company wishes to announce that the Acquisition was completed today.

Anthony Cheong Fook Seng
Group Company Secretary

23 December 2011