Press Release

26 April 2002, Hong Kong - AS Watson Group announces the appointment of Mr Iwan Evans as Chief Executive Officer of its Retail Food Division with effect from 1 May 2002. Mr Evans is currently Managing Director of PARKnSHOP China.

Mr Evans is no stranger to Asia and has wealth of experience in retail. He joined AS Watson in 1991 and since then has held various positions in the group including Taiwan and Project Director of AS Watson responsible for pioneering the Group's strategic review and planning of its retail initiatives in Asia. He was subsequently appointed as Director and General Manager of PARKnSHOP Northern China. In 1999, Mr Evans was promoted to Managing Director of PARKnSHOP China to lead the aggressive growth plan in Southern China and has successfully introduced the unique superstore and megastore concepts to the region.

Mr Evans, when assuming the role as the CEO of AS Watson's Retail Food Division, will be charged with the overall responsibility to lead the business of various renowned retail brands including PARKnSHOP, Watson's Wine Cellar and Great Food Hall.

The appointment of Evans came following the retirement of Mr Logan Taylor, previously CEO of Retail Food Divisions. Mr Logan has led the division for the last six and a half years.

In announcing the new appointment, AS Watson's group managing director Mr Ian Wade said, "We are grateful to Mr Taylor's dedication and achievements in growing the Group's retail food business. During his six and a half years heading the division, he has made a tremendous contribution to nurturing a truly energetic and innovative team culture for the business. Mr Evans has been working with Mr Taylor for many years at the strategic level and I am confident that his appointment will ensure a smooth transition."

With a history dating back to 1828, the AS Watson Group (ASW) has evolved into an international retail and manufacturing business with operations in 17 countries in Asia and Europe. The Group operates over 1,200 retail stores, owns more than 20 water and juice brands, and employs 27,000 staff worldwide. ASW is a member of the Hong Kong-based multinational conglomerate, Hutchison Whampoa Limited, which operates five core businesses in 36 countries: ports and related services; telecommunications; property and hotels; retail and manufacturing; and energy and infrastructure.