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July 5, 2007

Kirin Holdings comment on its possible investment in National Foods Ltd.

Kirin Holdings Company, Limited ("Kirin") today announced that Kirin and its affiliate San Miguel Corporation ("San Miguel," headquartered in Manila, the Philippines) are under preliminary discussions on a possible investment by Kirin in National Foods Limited ("National Foods," headquartered in Australia).

National Foods develops its core businesses of dairy products and soft drinks, and is a wholly-owned subsidiary of San Miguel.

Further details are currently under discussion.