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On behalf of the Board of Directors of AHB, AFFIN Investment Bank Berhad ("AFFIN Investment") is pleased to announce that the Securities Commission ("SC") has, vide its letter dated 27 August 2007, approved the Proposed Placement, subject to the following conditions:

(i) Payment for the Placement Shares be made within five (5) market days from the date The Bank of East Asia, Limited (“BEA”) received notification that all relevant approvals have been obtained;

(ii) BEA’s effective interest in AHB should not be more than 25%;

(iii) AFFIN Investment / AHB to fully comply with the relevant provisions in Guidance Note 8C and other relevant requirements stipulated in the SC’s Policies and Guidelines on Issue / Offer of Securities, in implementing the Proposed Placement, except for the waiver approved by the SC; and

(iv) AFFIN Investment / AHB to inform SC upon completion of the proposal.

The SC had also approved the Proposed Placement pursuant to the Foreign Investment Committee’s Guideline on the Acquisition of Interests, Mergers and Take-overs by Local and Foreign Interests.

This announcement is dated 29 August 2007.