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| We refer to our announcement dated 26 May 2005 in relation to the Proposed Merger of Local and Foreign Shares. |
| On behalf of the Board of Directors of PacificMas, AmMerchant Bank Berhad (a member of AmInvestment Group) is pleased to announce that Bursa Securities has vide its letter dated 22 June 2005, approved the Proposed Merger of Local and Foreign Shares subject to the approval of the shareholders of the Company being obtained. |
| At an extraordinary general meeting convened on 21 June 2005, the shareholders of PacificMas had approved the Proposed Merger of Local and Foreign Shares. |
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| This announcement is dated 22 June 2005. |
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