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We refer to the announcement made on 18 June 1999 in relation to the Proposed Take-Over wherein it was announced that the Company proposes to incorporate a new subsidiary to take over the stockbroking business of SSB. The Proposed Take-Over arises when Dato' Tan Hua Choon, Chairman and substantial shareholder of the Company, nominated a subsidiary of MAICA to take-over the stockbroking business of SSB ("Nomination") after his offer to acquire the stockbroking business of SSB had been accepted, subject to certain conditions.

On behalf of MAICA, Commerce International Merchant Bankers Berhad hereby announces that the Ministry of Finance has rejected the nomination of MAICA's subsidiary for the Proposed Take-Over. The Proposed Take-Over by MAICA is therefore aborted.

This announcement is dated 8 November 2000.