We refer to the article appearing in The Business Times (the first, second and third paragraphs in particular) on Friday, 16th December 2011, captioned as above and reproduced below -

"SHAREHOLDERS linked to UMW Holdings Bhd, a strategic partner of Toyota Motor Corp, are believed to have won a bid to buy Khazanah Nasional Bhd's stake in Proton Holdings Bhd.

Business Times was told that the UMW shareholders' bid was somewhere in the range of RM6 per Proton share.

It is further understood that the shareholders will eventually make a general offer for Proton via UMW Holdings."

Further to our announcement dated 15th December 2011 on the above matter, UMW wishes to advise you that our major shareholders have confirmed that they have not submitted any bid to Khazanah Nasional Berhad ("Khazanah") nor have they won any bid to buy Khazanah's stake in Proton Holdings Bhd.

UMW also wishes to re-affirm that it is not in any form of discussion with any parties in this regard.

cc  -  Securities Commission

         (Issues & Investment Division)