TEMPLETON DILUTING SHARES IN TSINGTAO

Templeton continues to reduce its holdings in H-share Tsingtao Brewery with the sale of 3.28 million shares last week. According to a disclosure to Hong Kong Exchanges and Clearing, Templeton holds 40.8 million Tsingtao shares following the transaction on January 30. This represents 11.77 per cent of the brewer's issued share capital.