General Announcement
Reference No CU-050208-38687

Submitting Merchant Bank	:	ASEAMBANKERS MALAYSIA BERHAD
Company Name	:	ISLAND & PENINSULAR BERHAD
Stock Name	:	I&P
Date Announced	:	08/02/2005


Type	:	Announcement
Subject	:	ISLAND & PENINSULAR BERHAD ("I&P" OR "THE COMPANY") - NOTICE OF MANDATORY GENERAL OFFER

Contents :

Aseambankers Malaysia Berhad, on behalf of the board of directors of I&P, wishes to announce that the Company had on 8 February 2005 served a written notice of takeover to the board of directors of Syarikat Perumahan Pegawai Kerajaan Sdn. Bhd. ("SPPK") pursuant to Part II of the Malaysian Code on Take-overs and Mergers (Amendment) 2004 ("the Code") to acquire 35,000,000 ordinary shares of RM1.00 each representing 29.91% of the issued and paid-up share capital in SPPK from the Ministry of Finance, Inc. for a purchase consideration of RM155,927,368. Details of the mandatory general offer is as disclosed in the notice of takeover attached herein.