DECLARATION OF DIVIDEND

Notice is hereby given that the Board of Directors of Phoenix Beverages Limited has, at a meeting held on the June 26, 2007, declared a final dividend of Rs 5.00 per ordinary share. This dividend is in respect of the financial year ending June 30, 2007 and will be payable in full to all Ordinary Shareholders registered at close of business on July 13, 2007.

Shares of Phoenix Beverages Limited will therefore be quoted ex-dividend at the Stock Exchange sessions following the one of July 10, 2007.

The payment of this dividend will be made on or about July 23, 2007.

By Order of the Board

GML Services Financiers et Juridiques Ltée

Secretary

June 26, 2007

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This announcement is issued pursuant to the Listing Rule 11.3.

The Board of Directors of Phoenix Beverages Limited accepts full responsibility for the accuracy of the information contained in this announcement.