Notes to Editors

Dairy Farm is an international retailing and wholesaling group which focuses primarily on the Asia-Pacific Region, with additional interests in the United Kingdom. The Group operates some 1,350* outlets, principally supermarkets, convenience stores and drugstores, and its associates operate a further 1,300. The Group employs some 44,000* people and its associates a further 41,900. In 1996, Dairy Farm reported sales of US$7,000 million which, with its associates, totalled some US$12,800 million.

Since the middle of 1997, the Group has significantly strengthened its operating management and has taken steps to focus on its core retail activities in the Asia-Pacific Region. Recent disposals have included its joint venture food manufacturing interests and its Spanish supermarket chain. The decision was also taken to close its loss-making drugstore chain in Taiwan.

The primary share listing of the parent company, Dairy Farm International Holdings Limited, is in London and the bulk of its shares are traded in Singapore. The Company is incorporated in Bermuda, and its businesses are managed from Hong Kong by Dairy Farm Management Services Limited through regional offices in Asia, Australasia and Europe.

* These figures do not include Simago, Mannings Taiwan and Wellsave Japan.