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Status update on discussions between Lion Nathan and Kirin on IA

Lion Nathan today announced that it is still in the process of agreeing the detailed terms of a mutually satisfactory Implementation Agreement (“IA”) with Kirin.

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May 4, 2009

Further to Lion Nathan Limited’s (“Lion Nathan”) announcement on 27 April 2009 relating to the offer from Kirin Holdings Company, Limited (“Kirin”) to acquire all of the issued shares in Lion Nathan that it does not already own (“Offer”), Lion Nathan today announced that it is still in the process of agreeing the detailed terms of a mutually satisfactory Implementation Agreement (“IA”) with Kirin that reflect the key commercial terms outlined in Lion Nathan’s announcement on 27 April 2009. Lion Nathan currently expects that an IA will be agreed and executed over the course of the next week.