Contents :

The Board of Directors of Pica (M) Corporation Bhd wishes to make the following announcement pertaining to the abovementioned article which appeared in The Business Times, Singapore on Thursday, 30 March 2000 to the Kuala Lumpur Stock Exchange for immediate public release:-

"As part of Pica's ordinary course of business as a venture capitalist, Pica is keenly exploring investment opportunities in the internet related industry, but as at the date hereof, no material contracts have been concluded."

Query Letter Contents :

We refer to the above article appearing in The Business Times, Singapore, on
Thursday, 30 March 2000, a copy of which is enclosed for your reference.
In particular, we would like to draw your attention to the underlined sentence,
which are reproduced as follows:-
"...PICA Corporation jumped 48 sen to RM4.98 on rumours that it may soon secure
a stake in another
internet company..."

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 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 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
KUALA LUMPUR STOCK EXCHANGE

Chong Fui Tzy
Manager, Listing Operations
ASL/TFM
c.c. Securities Commision