BreadTalk Granted The Development And Expansion Incentive ("DEI") Under The International Headquarters ("IHQ") Award

BackMar 30, 2004

The Board of Directors of BreadTalk Group Ltd ("the Company") is pleased to announce that BreadTalk Pte Ltd, a wholly owned subsidiary of the Company, has been granted a Development and Expansion Incentive under the International Headquarters (IHQ-DEI) Award by the Economic Development Board in February 2004. Subject to certain conditions, the subsidiary enjoys a concessionary tax rate of 10% on its qualifying income for a period of five years commencing 1 January 2003. The formal award ceremony will be held on 31 March 2004.