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AFFIN Merchant had earlier, on 14 June 2006, entered into the Business Transfer Agreement (“BTA”) with AFFIN Discount to acquire certain assets and liabilities of AFFIN Discount for a purchase consideration to be determined later based on the adjusted net tangible assets of AFFIN Discount as at the day immediately preceding the Transfer Date.

Further to the above, AFFIN Merchant had on 30 June 2006 entered into a Sale and Purchase Agreement (“SPA”) with AFFIN to acquire the entire issued and paid-up share capital of AFFIN Fund Management Sdn Bhd (“AFFIN Fund”) for a cash consideration of RM13,740,826 based on the audited consolidated net tangible assets of AFFIN Fund as at 31 December 2005 (“Acquisition”).

All the requisite approvals required for the transfer of Discount Business and AFFIN Fund Acquisition had been obtained.

The transfer of Discount Business is made pursuant to the Guidelines on Investment Banks jointly issued by Bank Negara Malaysia and the Securities Commission on 1 July 2005, that provide for, amongst others, the creation of investment banks.

The BTA and SPA will be made available for inspection at the Company's registered office at 7th Floor, Chulan Tower, No. 3 Jalan Conlay, 50450 Kuala Lumpur from Monday to Friday (except public holiday) during business hours for a period of two (2) weeks from the date of this announcement.

This announcement is dated 30 June 2006.