Indofood Agri Resources Ltd

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News

Notice of a Change In The Percentage Level Of A Substantial Shareholder's Interest

BackMar 29, 2007

>> PART I

1. Date of notice to issuer * 29-03-2007

2. Name of Substantial Shareholder * First Pacific Investments Limited ("FPIL")

3.	Please tick one or more appropriate box(es): *
	Notice of a Change in the Percentage Level of a Substantial Shareholder's Interest or Cessation of Interest. [Please complete Part III and IV]

>> PART II

1. Date of change of [Select Option]

2. Name of Registered Holder

3. Circumstance(s) giving rise to the interest or change in interest [Select Option]

# Please specify details

4. Information relating to shares held in the name of the Registered Holder

No. of [Select Option] held before the change
As a percentage of issued share capital	%

No. of N.A. which are subject of this notice
As a percentage of issued share capital	%

Amount of consideration (excluding brokerage and stamp duties) per share paid or received

No. of N.A. held after the change
As a percentage of issued share capital	%

>> PART III

1. Date of change of Deemed Interest 28-03-2007

2. The change in the percentage level From 74.33 % To 73.96 %

3. Circumstance(s) giving rise to the interest or change in interest # Others

# Please specify details

First Pacific Company Limited ("FPCL") has transferred and disposed the entire 5,070,000 shares of the Company in order to meet and fund its obligations to its Shareholders under the FP Distribution-in-specie (as defined in the Company's Circular to its Shareholders dated 11 December 2006).

(i) FPIL owns more than 20% of the issued share capital of FPCL. By virtue of Section 7(4A) of the Companies Act (Chapter 50) ("the Act"), FPIL is deemed to be interested in the shares owned by FPCL. (ii) By virtue of Section 7 of the Act, FPCL is deemed to be interested in the shares owned by Indofood Singapore Holdings Pte. Ltd. ("ISHPL"). (iii) Accordingly, by virtue of Section 7(4A) of the Act, FPIL is deemed to be interested in the shares owned by ISHPL.

A statement of whether the change in the percentage level is the result of a transaction or a series of transactions:

The change in percentage level is the result of the transactions as described above.

>> PART IV

1.	Holdings of Substantial Shareholder , including direct and deemed interest :

	Direct	Deemed
No. of shares held before the change	0	1003270000
As a percentage of issued share capital	0 %	74.33 %
No. of shares held after the change	0	998200000
As a percentage of issued share capital	0 %	73.96 %

Footnotes

CIMB-GK Securities Pte. Ltd. acted as the financial adviser to the Company in relation to the acquisition of the entire share capital of Indofood Oil & Fats Pte. Ltd.