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Danone bid for Frucor passes 60%

16 January, 2002

Danone bid for Frucor passes 60%

Offer still conditional on reaching 90%

Danone Asia today announced that it has received acceptances for more than 60% of the shares in Frucor Beverages. Shareholders have until 5pm Friday, 18 January to accept Danone’s offer. Danone’s offer remains conditional on receiving 90% or more of the shares in Frucor, in order to move to full acquisition.

Danone Asia Managing Director Mr Simon Israel commented on the progress of Danone’s offer saying “We are happy to see that we are past the 60% mark and that the momentum of acceptances is building. I have been advised that Frucor’s management have tendered their shares into the offer. I am pleased to see that both the independent directors and management are supporting our offer.”

Mr Israel reaffirmed Danone’s intention to de-list the company in the event that Danone was able to acquire 90% of Frucor’s shares.

- ends –

Prepared on behalf of Danone Asia Pte Ltd.

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