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Ekovest wishes to inform the Exchange that its wholly-owned subsidiary EKOVEST PROJECT MANAGMENT SDN BHD has been appointed by Abad Ehsan Sdn Bhd as Project Managers for the Danga Bay Project since July 1999 in its ordinary course of business. However, the appointment has been terminated by mutual consent on 30th April 2000 due to a decision to enter into discussion with Pembinaan Limbongan Setia Berhad to participate as project managers. Details of the award of the project management contract has not been finalised

Query Letter Contents :

We refer to the above article appearing on Bloomberg on 3 May 2000, a copy of
which is enclosed for your reference.
In particular, we would like to draw your attention to the underlined sentence,
which is reproduced as follows:-
"Pembinaan Limbongan Setia Bhd. and Ekovest Bhd. are set to manage a real
estate project near the Malaysia-Singapore causeway worth an estimated 15
Billion ringgit over 15 years."
In accordance with the Exchange's Corporate Disclosure Policy, you are
requested to furnish the Exchange with an announcement for public release
confirming or denying the above reported sentence after due and diligent
enquiry with all the directors, substantial shareholders and all such other
persons reasonably familiar with the matters about which the disclosure is to
be made in this respect. In the event you deny the above reported sentence, you
are required to set forth facts sufficient to clarify any misleading aspects of
the same. In the event you confirm the above reported sentence, you are
required to set forth facts sufficient to support the same.
Please furnish the Exchange with your reply within one (1) market day from the
date hereof.
Yours faithfully
KUALA LUMPUR STOCK EXCHANGE

Inderjit Singh
Senior Manager, Listing Operations
ASL/NIK
cc: Securities Commission