Contents :

On 14 February 2001, PBB received a query from Kuala Lumpur Stock Exchange ("KLSE") regarding an article entitled "PBB Considers Injecting Capital Market Related Businesses into HHB" which appeared in the Sin Chew Jit Poh (page 3 of the Sin Chew Business Section).

The article had quoted the view expressed by J.P. Morgan that PBB is considering injecting its capital market related businesses, including stockbroking; merchant banking; and unit trust and asset management business into HHB (which will become a shell company upon the completion of PBB's proposed merger with HHB).

As stated in the PBB Circular to Shareholders issued on 13 February 2001, and which we reproduce as follows:

"It is the intention of PBB to maintain the listing of HHB on the Main Board of the KLSE after the Proposed Merger subject to the approval of the Securities Commission and the KLSE. In this respect, PBB may identify suitable assets to be injected into HHB and meet the public spread requirements in order to maintain the listing of HHB on the KLSE."

However, the Board of PBB has yet to decide as to the assets that may be injected into HHB and the future business direction of HHB upon it becoming a wholly owned subsidiary of PBB and a shell company with the completion of PBB's merger with HHB.

An announcement on this matter will be made at the appropriate time in the future.

Query Letter Contents :

We refer to the above news article appearing on page 3, Sin Chew Business
section, Sin Chew Jit Poh, on Tuesday, 14 February 2001, a copy of which is
enclosed for your reference.
In particular, we would like to draw your attention to the underlined sentence,
which states that PBBANK considers injecting its capital market related
businesses, including stockbroking, merchant-banking, unit trust and asset
management units into HHBANK.

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 article and in particular the
underlined 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 sentence or any other part of the above reported
article, you are required to set forth facts sufficient to clarify any
misleading aspects of the same. In the event you confirm the above sentence or
any other part of the above reported article, 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


CHONG FUI TZY
Manager, Listing Operations
ASL/HTH/TPL
c.c. Securities Commission (via fax)