General Announcement
Reference No CU-050222-51089

Submitting Merchant Bank	:	ASEAMBANKERS MALAYSIA BERHAD
Company Name	:	ISLAND & PENINSULAR BERHAD
Stock Name	:	I&P
Date Announced	:	22/02/2005


Type	:	Reply to query
Reply to Bursa Malaysia's Query Letter -Reference ID	:	KM-050217-42657
Subject	:	Island & Peninsular Berhad ("I&P") Mandatory General Offer By I&P to Acquire 35,000,000 Ordinary Shares of RM1.00 Each Representing 29.91% Of The Issued And Paid-Up Share Capital In Syarikat Perumahan Pegawai Kerajaan Sdn Bhd From the Ministry of Finance, Inc ("MOF") Undertaken Pursuant To Part II Of The Malaysian Code On Take-overs And Mergers (Amendment) 2004 ("Mandatory Offer")

Contents :

With reference to the announcement made by I&P dated 16 February 2005 and the letter from Bursa Malaysia Securities Berhad ("Bursa Securities") dated 18 February 2005, we wish to furnish Bursa Securities with the following additional information:

1. Should MOF opt for the cash option for the Mandatory Offer, the consideration of RM155,927,368 shall be funded from either internally generated funds and/ or bank borrowings.

2. The approval of the shareholders of I&P would also be sought in the event that MOF opts for the cash offer.

3. To the best of the knowledge of I&P, none of the directors and/ or major shareholders and persons connected to the directors and/ or major shareholders have any interest, direct or indirect, in the transaction.

Query Letter content :
We refer to your announcement on behalf of I&P dated 16 February 2005 in
respect of the aforesaid Mandatory Offer.
In this connection, kindly furnish Bursa Malaysia Securities Berhad ("Bursa
Securities") with the following additional information for public release:-
Source of funding for the cash offer of RM155,927,368;
Whether shareholders' approval is required in the event MOF opts for the cash
offer; and
Whether directors and/or major shareholders and persons connected to directors
and/or major shareholders have any interest, direct or indirect, in the
transaction.

Please furnish Bursa Securities with your reply within two (2) market days from
the date hereof.
Yours faithfully

INDERJIT SINGH
Sector Head
Issues & Listing
Group Regulations
CKM