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| We refer to our announcement made on 21 February 2003 and the updates made vide our announcements of the Company's Quarterly Financial Reports in relation to the Company's Proposed Merger with the Great Eastern Group. |
| In addition to the appointment of AmMerchant Bank Berhad as the Main Adviser and Aseambankers Malaysia Berhad as the Independent Adviser for the Proposed Merger with the Great Eastern Group, we wish to inform the Bursa Malaysia Securities Berhad that PacificMas Berhad has appointed J.P. Morgan Malaysia Sdn Bhd as Financial Adviser with effect from 1 April 2005. |
| J.P. Morgan Malaysia Sdn Bhd is a subsidiary of JP Morgan Chase & Co., a leading global financial services firm with assets of US$1.1 trillion and operations in more than 50 countries. |
| The scope of work of the Financial Adviser includes, amongst others, the following: |
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reviewing/analysing the valuations of PacificMas Berhad Group and Great Eastern Group for the purpose of negotiations; and |
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reviewing the efficiency of the proposed transaction structure. |
| Further announcements will be made as and when there are material developments. |
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| This announcement is dated 6 April 2005. |
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