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The Board of Directors of MAICA wishes to announce that it has proposed for MAICA to adopt a new set of Articles of Association which contain, among others, the relevant provisions of Chapter 7 of the KLSE Listing Requirements ("the Proposal").

The Proposal is made to comply with the requirements of the KLSE Listing Requirements and at the same time to bring the Articles of Association of MAICA in line with other relevant statutory or regulatory requirements which have been revised and where relevant to render consistency throughout.

The proposal is conditional upon the:-

(a) approval of the shareholders of MAICA at an Extraordinary General Meeting to be convened on 21 September, 2001; and

(b) lodgement of a copy of the shareholders' special resolution on the adoption of a new set of Articles of Association with the Registrar of Companies.



c.c.: Securities Commission