To: Business Editor

For immediate release

2nd May 2000 - Dairy Farm International Holdings Limited ("DFIH") today announced that it has mandated ABN AMRO Bank N.V., Chase Manhattan Asia Limited and Standard Chartered Bank (together the "Coordinating Arrangers") to arrange a US$385 million equivalent Multi-Currency Revolving Credit Facility for DFIH and its two principal subsidiaries, The Dairy Farm Company, Limited and Franklins Holdings Limited. The Facility represents DFIH's first foray into the syndicated loans market.

The Facility, which will be guaranteed by DFIH, has been fully underwritten by the Coordinating Arrangers. Proceeds of the Facility will be used to refinance the existing bilateral loans of DFIH and its two principal subsidiaries, and for general corporate purposes.

The Facility will comprise a HK$2 billion tranche available in Hong Kong dollars or its equivalent in United States dollars and a A$200 million tranche available in Australian dollars. Both tranches will be repaid at the end of five years and will have a common interest margin over the respective HIBOR, LIBOR, or Bank Bill Rate.

General syndication of the Facility will commence today. The Coordinating Arrangers' roles are:

ABN AMRO Bank N.V.      : Signing & Publicity Agent	
Chase Manhattan
  Asia Limited          : Bookrunner
Standard Chartered Bank : Facility & Documentation Agent

Dairy Farm is a leading food and drugstore retailer in the Asia-Pacific Region. At the end of 1999, the Group and its associates operated 2,063 outlets, principally supermarkets, convenience stores and drugstores, employed some 80,000 people in nine territories, and achieved 1999 sales of US$6.8 billion.

For further information, please contact:

Dairy Farm Management Services Limited

Simon Mawson

(852) 2299 1889 (office)

Full text of this and other Group announcements can be accessed through the Internet at "www.irasia.com/listco/sg/dfi".