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INFORMATION REQUEST


Date : 29 May 2000

ARTICLE ENTITLED: "Allianz aims to acquire Malaysia British Assurance"

MALAYSIA BRITISH ASSURANCE BERHAD

TypeReply to query
Reply to Query Letter by KLSE reference IDPL-000526-35050
SubjectARTICLE ENTITLED:
"Allianz aims to acquire Malaysia British Assurance"

Contents :

Reference is made to your letter dated 26 May 2000.


We would like to state for public announcement that the Company has been informed by its substantial shareholder, Exuniq Sdn Bhd, that it is negotiating with Allianz AG on its holding of 16,906,666 ordinary shares or approximately 31.61% of the issued and paid-up capital of Malaysia British Assurance Berhad. The Company will keep the Exchange informed in the event of any further developments.

Query Letter Contents :

We refer to the above article appearing in The Sun, Sun Biz section, page 2, on
26 May 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:-
"German insurance giant Allianz AG may emerge as the single largest
shareholder in Malaysia British Assurance Bhd (MBA) following moves to acquire
the Lion group's stake in the insurance company."
"Allianz already has a 20.2% equity interest in MBA through AGF Asia Private
Ltd as at last Oct 8 and it is learnt that Allianz is looking to raise the
stake to 49% with the latest move."
"Sources say Lion group is seeking approval from Bank Negara for the sale."
"If the deal goes through, Allianz is expected to take over the management of
MBA given its 49% stake."
"Another suitor for the Lion group's stake in MBA is believed to be
SPK-Sentosa Corporation Bhd but sources say the proposal failed to get the
central bank's approval."
"According to sources, the price tag sought by the Lion group for its interest
in MBA is expected to be higher than the RM6.50 offered by Insas."

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
KUALA LUMPUR STOCK EXCHANGE


Chong Fui Tzy
Manager, Listing Operations

ASL/TPL
c.c. Securities Commission



Announcement Info

Company NameMALAYSIA BRITISH ASSURANCE BERHAD  
Stock Name MBA    
Date Announced29 May 2000  
CategoryGeneral Announcement
Reference NoMM-000529-50815