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Jardine Matheson Group Acquires 12.25% Stake in ACLEDA Bank Plc

December 17, 2009

Phnom Penh, December 17, 2009 — JSH Asian Holdings Limited today announced that it has agreed to acquire a 12.25% stake in ACLEDA Bank Plc ('ACLEDA'), Cambodia's second largest bank, from FMO, the international development bank of the Netherlands. JSH Asian Holdings Limited is a subsidiary of Jardine Strategic Holdings Limited which is a publicly listed member of the Jardine Matheson Group.

The purchase, which is for an undisclosed sum, is expected to be concluded by the end of the year.

Commenting on the transaction, Mr Alain Cany, Group Country Chairman of Jardine Matheson Vietnam, said "we believe ACLEDA offers significant growth potential in a country that has a bright future. The investment and guidance provided by FMO to ACLEDA has clearly helped it to develop and mature, and we are very much looking forward to being a supportive shareholder in the coming phase of its growth".

"Our participation with ACLEDA shows how FMO supports entrepreneurs in achieving the next level of development," said Mr Jurgen Rigterink, FMO’s CIO. "We first became involved in 2000 with financing from the Micro & Small Enterprise Fund we manage on behalf of the Dutch government, and our level of investment has grown steadily over the years. We have also provided capacity development support in areas such as corporate governance and risk management that has helped ACLEDA evolve into a professional organisation ready for the next step. We feel this is the right time for a major private investor such as Jardines to acquire our stake in ACLEDA. FMO will remain a shareholder in ACLEDA Bank in Laos and will continue to look for new investment opportunities in the region in the coming years."

In welcoming the announcement, Mr Chea Sok, ACLEDA's Chairman, said that the bank had been aware of the Jardine Matheson Group’s interest for some time and had been working closely with both parties to facilitate the deal. "Jardines brings to ACLEDA more than 175 years of experience in commerce and banking in Asia. In our meetings with Jardines we have found that we share similar corporate values and a joint commitment to the success of the bank. We look forward to a long-term partnership in building our business and playing a leading role in Cambodia's economic development."

Mr. In Channy, President and CEO, paid tribute to FMO as one of the founding shareholders who played an essential role in creating ACLEDA into the institution it is today. "We owe them a deep sense of gratitude, and while they will no longer be a shareholder they will continue to be a major partner in a number of key areas in the on-going development of the bank," he said.

Following completion, Mr. Alain Cany will join the Board of Directors replacing Mr Joseph Hoess, who will, however, remain on the Board of ACLEDA Bank Lao Limited as Vice-chairman. Mr Cany is Group Country Chairman of Jardine Matheson Vietnam and was formerly President and Chief Executive Officer for HSBC Vietnam.

About Jardine Strategic

Jardine Strategic is a holding company within the Jardine Matheson Group which takes long-term strategic investments in multinational businesses, particularly those with an Asian focus, and in other high quality companies with existing or potential links with the Group. Its principal attributable interests are in Jardine Matheson 53%, Hongkong Land 49%, Dairy Farm 78%, Mandarin Oriental 73% and Jardine Cycle and Carriage 68%, which in turn has a 50% interest in Astra International. Jardine Strategic is 81%-held by Jardine Matheson. The Company also has a 21% interest in Rothschilds Continuation.

About FMO

The Netherlands Development Finance Company (FMO) is the international development bank of the Netherlands. FMO invests risk capital in companies and financial institutions in developing countries. With an investment portfolio of € 4.2 billion, FMO is one of the largest bilateral private sector development banks worldwide. Thanks in part to its relationship with the Dutch government, FMO is able to take risks which commercial financiers are not - or not yet - prepared to take. FMO's mission: to create flourishing enterprises, which can serve as engines of sustainable growth in their countries.

For further information, please contact:

Jardine Matheson Limited
[Neil M McNamara]
Tel: +852 2843 8227

Golin Harris
Kennes Young
Tel: +852 2501 7987

FMO
Nicoline van Slingelandt,Communications Officer (PR)
Tel: +31 70 314 9790, +31 622 563 047
E-mail:
Website: www.fmo.nl

ACLEDA Bank Plc
Mrs. So Phonnary, Executive Vice President & Chief Operations Officer
Tel: +855­ (0)23 998 777 / 430 999
E-mail:

Mr. Prom Visoth, Senior Vice President & Head of Legal and Corporate Affairs Division, and Company Secretary
Tel: +855­ (0) 23 998 777 / 430 999
E-mail: