Contents :

Further to the Company’s announcement dated 17 October 2003 bearing reference no. TA-031016-54938 and in response to a query received from the Kuala Lumpur Stock Exchange on 23 October 2003, the Special Administrators wish to furnish the following additional information:

1. The solicitors of the Company and Westmont Offshore Sdn. Bhd. (collectively hereinafter referred to as "the Claimants") have advised that the claims made by the Claimants against Westmont Power (Bangladesh) Limited ("WPBL") are considered withdrawn as of 28 May 2003 without prejudice to these claims being reintroduced in a new request for arbitration.

2. As a result of the above, the Claimants are still presently seeking the advice of their solicitors on possible action steps to be taken to recover their claims against WPBL.

3. Save for the administrative and legal costs which have been charged to the Claimants, the withdrawal of the arbitration proceedings involving the Claimants and WPBL has no material impact on the TECASIA Group.

Query Letter Contents :

We refer to your announcement dated 17 October 2003 in respect of the aforesaid
matter.
In this connection, kindly furnish the Exchange with the following additional
information for public release:

Date of deemed withdrawal of arbitration proceedings against Westmont Power
(Bangladesh) Ltd and consequence of this.
Steps taken/proposed to be taken as a result of the deemed withdrawal.
The financial and operational impact on the group, if any.
Please furnish the Exchange with your reply within two (2) market days from the
date hereof.
Yours faithfully
INDERJIT SINGH
Sector Head
Issues & Listing
WSW/THY