Contents :

This anouncement is made in response to the Exchange's querry on 7 July 2003 regarding the sharp increase in price and volume ("unusual market activity") in the Company's shares. After due enquiry the Directors confirm that they are not aware of any reasons that could account for the recent unusual market activity. There has been no undisclosed development that could account for the unusual market activity and the Company has not, to the best knowledge of the Directors, been the subject of any rumour or report.

Query Letter Contents :

We draw your attention to the sharp increase in price and volume in your
Company’s shares recently.
In accordance with paragraph 9.11 of the Exchange’s Corporate Disclosure Policy
on Response To Unusual Market Activity, you are requested to furnish the
Exchange with an announcement for public release after a due enquiry seeking
the cause of the unusual market activity in the Company’s securities. When
considering your response and when making the required announcement, your
attention is particularly drawn to the continuing disclosure requirements set
out in Chapter 9 of the KLSE’s Listing Requirements.

The announcement is to reach the Exchange within one market day from the date
hereof via KLSE Listing Information Network ("KLSE Link").

Yours faithfully


FUNG RU HUEY
Senior Manager
Financial Review & Surveillance
Listing Group
FRH/Ami