AFFIN Group

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The Affin Bank Group is a financial services conglomerate. The Group's activities focus on commercial, Islamic and investment banking services, money broking and underwriting of life and general insurance business.

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Economic Profit/(Loss) Statement

May 15, 2006

Type	Announcement
Subject	AFFIN HOLDINGS BERHAD ("AFFIN" or "The Company") ECONOMIC PROFIT/(LOSS) STATEMENT

	INIVIDUAL PERIOD		CUMULATIVE PERIOD
	Current Year Quarter 1Q2006 RM million	Preceeding Year Corresponding Quarter 1Q2005 RM million	CurrentYear To Date 1Q2006 RM million	Preceeding Year Corresponding Period 1Q2005 RM million
Profit After Tax Before MI Economics Charge Cost of Equity (%) Total Equity Economic Charge Economic (Loss)/Profit	51.1 10.98 3,230.1 88.7 (37.6)	89.5 10.84 3,139.7 85.1 4.4	51.1 10.98 3,230.1 88.7 (37.6)	89.5 10.84 3,139.7 85.1 4.4

Assumptions on parameters used in the Economic Profit/(Loss) calculations

1.) The cost of equity of the company is calculated based on the following formula :-

Cost of Equity = Beta x Market Risk Premium + Risk Free Rate

2.) The Beta used in the calculation is the 5 year adjusted Bloomberg Beta as follows :-

	Beta
1st Qtr 2006	1.32
1st Qtr 2005	1.18

3.) The risk free rate is the rate of return of a 10-year Malaysian Government Securities (MGS) at the closing of the reporting period as follows :-

As at	Risk free rate (%)
31 Mar 2006	4.12
31 Mar 2005	4.70

4.) The market risk premium is assumed at 5.2% which represents the market return in excess of the return earned on risk free asset.

5.) Total equity is based on the average as at the beginning and end of the reporting period.

Announcement Info

Company Name	AFFIN HOLDINGS BERHAD
Stock Name	AFFIN
Date Announced	15 May 2006
Category	General Announcement
Reference No	CC-060515-53060

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Economic Profit/(Loss) Statement

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