Contents :

We refer to Malaysia Securities Exchange Berhad's ("MSEB") letter of query dated 27 January, 2004 on the sharp decrease in price with high trading volume in our Company's shares on 27 January, 2004 and our reply to MSEB dated 28 January, 2004.

We wish to inform that we have received from Permodalan Nasional Berhad ("PNB"), a substantial shareholder of the Company, notices of disposal of Malaysia Aica Berhad shares by PNB on the following dates as per table A below:-


Table A

Date of disposal	No. of shares	% of shareholding	Date of receipt of Form 29B
20.01.2004	500,000	0.38	27.01.2004
26.01.2004	500,000	0.38	30.01.2004
27.01.2004	2,077,700	1.59	30.01.2004
	3,077,700	2.35

Query Letter Contents :

We draw your attention to the sharp decrease in price with high trading volume
in your Company’s shares today.
In accordance with paragraph 9.11 of the Exchange’s Corporate Disclosure Policy
on Response To Unusual Market Activity, you are requested to furnish the
Exchange with an announcement for public release after a due enquiry seeking
the cause of the unusual market activity in the Company’s securities. When
considering your response and when making the required announcement, your
attention is particularly drawn to the continuing disclosure requirements set
out in Chapter 9 of the Listing Requirements of Malaysia Securities Exchange
Berhad.
The announcement is to reach the Exchange within one (1) market day via KLSE
Listing Information Network
(“KLSE Link”).

Yours faithfully



CH'NG BOON HUAT
Development & Sector Head
Listing Compliance
Group Regulations