We refer to the above-captioned, and the earlier announcement made on 26 March 2007, 28 March 2007, 16 April 2007 and 17 April 2007 in relation the Proposed Private Placement.

On behalf of the Board of Directors ("Board") of OSKP, OSK Investment Bank Berhad (formerly known as OSK Securities Berhad) ("OSK") wishes to announce that the Ministry of International Trade and Industry via their letter dated 11 May 2007 (which was received on even date), has no objection on the Proposed Private Placement subject to Company obtaining the approval of the Securities Commission (“SC”) and complying to the guidelines on the acquisition of interests, mergers and take-overs by local and foreign interest.

OSK, on behalf of the Company, had on 17 April 2007 announced that the Proposed Private Placement had been approved by the SC and SC (on behalf of the Foreign Investment Committee) via its letter dated 16 April 2007 (which was received on 17 April 2007).