Singapore

Temasek Holdings ("Temasek") has signed a Share Purchase Agreement through its wholly-owned subsidiary Seletar Investments Pte Ltd, with Kirin Holdings Company, Limited ("Kirin"), a leading F&B company in Asia, for the sale of its entire stake in Fraser & Neave, Limited ("F&N"), representing approximately 14.7% of total shares outstanding.

David Heng, Managing Director, Investments, Temasek said, "We had invested in F&N in 2006 to support its ambitions in realising its F&B strengths and potential. When Kirin approached us with an acceptable offer over a week ago, we decided, on balance, that it was a good opportunity for F&N to work with an established F&B company with complementary strengths."
The transaction is expected to be completed by 29 July 2010.

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About Temasek Holdings

Incorporated in 1974, Temasek Holdings is an Asia investment company headquartered in Singapore . Supported by 12 affiliates and offices in Asia and Latin America, Temasek owns a diversified S$186 billion portfolio as at 31 March 2010, concentrated principally in Singapore , Asia and the emerging economies.

Temasek's investment themes centre on Transforming Economies, Growing Middle Income Populations, Deepening Comparative Advantages and Emerging Champions. Its portfolio covers a broad spectrum of industries: financial services; telecommunications, media & technology; transportation & industrials; life sciences, consumer & real estate; energy & resources.

Total shareholder return for Temasek since its inception in 1974 has been a healthy 17% compounded annually. It has a corporate credit rating of AAA/Aaa by rating agencies Standard & Poor's and Moody's respectively.

For further information on Temasek, please visit www.temasek.com.sg.

For media enquiries, please contact:

Serena Khoo
Director, Corporate Affairs
Temasek Holdings (Private) Limited
DID: (65) 6828-6509
Email: serenakhoo@temasek.com.sg

Jeffrey Fang
Senior Associate, Corporate Affairs
Temasek Holdings (Private) Limited
DID: (65) 6828-6857
Email: jeffreyfang@temasek.com.sg