Contents :

As we have responded in our reply of June 9, 2000 to the Kuala Lumpur Stock Exchange's query then on the same matter, Maybank is still unaware of the information referred to in the Business Times, pages 1 and 12 and The Edge Online, both dated August 28, 2000.

We have again consulted our substantial shareholder and they have confirmed that their Board of Directors have no knowledge nor has the matter been deliberated, as reported in the newspapers and Internet news as above and queried by the Kuala Lumpur Stock Exchange.

Query Letter Contents :

We refer to the above article appearing in The Edge Online, on 28 August 2000,
a copy of which is enclosed for your reference.
In particular, we would like to draw your attention to the underlined
sentences, which are reproduced as follows:-
"Malaysia's largest commercial bank, Malayan Banking Bhd (Maybank) is expected
to take over Malaysia National Insurance Bhd (MNI) - the country's largest
insurance company - as Permodalan Nasional Bhd (PNB) moves to consolidate its
insurance business."
"Parties close to the mega deal say Maybank has been given the blessings,
believed to be the Economic Planning Unit, to initiate the merger of the
insurance units under PNB."
"Under the consolidation exercise, a holding company is expected to be set up
by Maybank to group all PNB's insurance business, which according to sources,
will place the life and general insurance activities in two different
entities."
"The merger of the banking groups may result in the consolidation of their
respective insurance units, of which at least 10 insurance companies will
dissolve, with Maybank's insurance unit being one of them, say observers."

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 sentences 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 sentences 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 sentences 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/TPL
c.c. Securities Commission (via fax)
(Attn: Encik Onn Ismail, Market Surveillance Department)