Contents :

The Board of Directors of Malaysia Aica Berhad (8235-K) ("MAICA") wishes to announce that MAICA had acquired the entire issued and paid-up share capital of RM2.00 in AMBANG ARENA SDN BHD ("AASB") in May 2000. The particulars of AASB are as follows :

Company Number : 512006-X

Date of Incorporation : 20 April, 2000

Authorised share capital : RM100,000/- made up of 100,000 ordinary shares
of RM1.00 each

Issued & Paid-up share capital : RM2/- made up of 2 ordinary shares of RM1.00 each

Shareholder No. of Shares % of shareholding

Malaysia Aica Berhad 2 100



As of todate, AASB has not commenced operation. The Board of Directors of AASB comprise of Mr Thor Poh Seng and En Hamzah Bin Dato' Dr Mohd Salleh.

The acquisition is not expected to have a material effect on the net tangible asset or earnings of the MAICA Group for the year ending 31 March, 2001 and is also not subject to the approval of any authority nor the shareholders of MAICA.

None of the Directors or substantial shareholders and person connected with the Directors and substantial shareholders of MAICA and AASB has any interest, direct or indirect, in the said acquisition.