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Danone Bid For Frucor Crosses 90%

18 January, 2002

Danone Asia today announced that it has received acceptances for more than 90% of the shares in Frucor Beverages. The offer is now unconditional and Danone intends to move to compulsorily acquire the remaining shares and de-list the company.

Danone Asia Managing Director Mr Simon Israel said he was extremely pleased with the late flood of acceptances today and thanked the shareholders for accepting Danone’s offer.

“I’m very happy there has been a successful outcome to what has been a protracted offer period. We respect the fact that the Independent Directors had to ascertain whether this offer was in the best interests of shareholders before recommending the offer.

“We believe that this outcome is in the best interest’s of Frucor’s long term future and look forward to working with the management of Frucor to realise the potential of the company’s great brands on a global scale.”

- ends –

Prepared on behalf of Danone Asia Pte Ltd.

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