We wish to inform the Exchange that on 30 September 2004, Malaysia & Nippon Insurans Berhad ("MNIB") , a wholly-owned subsidiary of PacificMas Berhad, has disposed of one of the company's motor vehicles, Mercedes Benz E230 to its former Chairman, Mej. Jen (B) Dato' Abdul Aziz bin Mansur for a cash consideration of RM 90,000. The motor vehicle which was purchased by MNIB in 1996 at a cost of RM291,029, has a net book value of RM1.00 as at 31 August 2004. The expected gain from the disposal of the motor vehicle is RM89,999.

Mej. Jen (B) Dato' Abdul Aziz bin Mansur was a director norminated by Koperasi Angkatan Tentera Malaysia Berhad ("KATM") to sit on the Board of MNIB. Prior to 23 August 2004, MNIB was a wholly-owned subsidiary of KATM. KATM is one of the substantial shareholders of PacificMas Berhad.

Saved as disclosed above, none of the directors and substantial shareholders of PacificMas Berhad and persons connected to them has any interest, direct or indirect, in the disposal.

The disposal of this motor vehicle will not have any material financial effect on the PacificMas Berhad Group.