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To: Business Editor For immediate release

DAIRY FARM ANNOUNCES MANAGEMENT CHANGES IN SOUTH ASIA

Singapore, 14 March 2000 - Dairy Farm today announced the following appointments.

Ian McClellan is appointed Chief Operating Officer of Hero, Indonesia's largest supermarket chain and a Dairy Farm joint venture. Mr McClellan replaces Mr Jeff Shaw who has been transferred to head up Wellcome, Hong Kong as its Chief Executive Officer.

Prior to the appointment, Mr McClellan was Country Manager for Singapore and Malaysia. During his tenure, Mr McClellan considerably improved the financial performances and operational efficiencies of the businesses as well as strategically expanded the Group's presence in these two countries.

Mr McClellan brings with him in-depth experience and understanding of the retail business including over 17 years with Australia's premier food retailer Coles New World Supermarkets. He held senior management positions in marketing, merchandising and operations with Coles before leaving to work with the Queensland Independent Wholesalers Ltd and after that with Davids Distribution Pte Ltd first in Indonesia and subsequently in Singapore.

As Chief Operating Officer of Hero, Mr McClellan will be leading the Hero team to strategically grow and develop the business in Indonesia and increase its market presence.

Gary Dunwell is appointed Country Manager of Singapore. Mr Dunwell replaces Mr Ian McClellan who has been transferred to Indonesia to assume the position of Chief Operating Officer of Hero, Indonesia.

Prior to the appointment, Mr Dunwell held the position of Chief Executive Officer of Mannings Hong Kong, a health and beauty store, from 1996 till his recent transfer to Singapore. During his tenure at Mannings, Mr Dunwell has successfully repositioned Mannings to a leading health and beauty store in the Hong Kong market and led his team to achieve outstanding results in very difficult trading conditions over the last couple of years.

Mr Dunwell brings with him a wealth of experience in the retail business. He was with Marks & Spencer, UK for 12 years before being transferred to Hong Kong in 1994. He held several senior management positions within M & S in the operations and merchandising areas before joining the DFI Group.

In his new role, Mr Dunwell will be continue to grow and expand Cold Storage Supermarkets, 7-Eleven, Guardian Pharmacy, Photo Finish and Handifix and improve operational efficiencies within the business.

Alan Nementzik has been named Operations Director of Malaysia.

In this newly created position, Mr Nementzik will be responsible for the operations of DFI Malaysia Wellsave Supermarkets, oversee the operations of Giant TMC as a member of the Giant TMC Advisory Committee, and assist Guardian in the implementation of category management to maximise operational efficiencies.

Mr Nementzik has extensive retail experience, primarily with the Checkers Group, South Africa. He moved to Asia in 1994 and held the position of Managing Director with Auric Pacific Marketing (formerly EAC Consumer Products) based in Singapore before joining DFI.

"We are delighted with these management moves and new appointments in Dairy Farm. The new millennium holds exciting challenges and opportunities for the Group and Mr McClellan, Mr Dunwell and Mr Nementzik will be key players in determining the future growth and success of our business," Michael Kok, Regional Director - South Asia of Dairy Farm said.

- end -

Issued by Forrest International Limited on behalf of Dairy Farm. For further information, please contact:

Lorraine Chua
Forrest International
65 338 2469
 
Michael Kok
DFI South Asia
65 832 9602

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