General Announcement
Reference No CU-050316-50925

Submitting Merchant Bank	:	ASEAMBANKERS MALAYSIA BERHAD
Company Name	:	ISLAND & PENINSULAR BERHAD
Stock Name	:	I&P
Date Announced	:	16/03/2005


Type	:	Announcement
Subject	:	Mandatory general offer by Island & Peninsular Berhad ("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. ("SPPK") from the Ministry of Finance, Inc. ("MOF") undertaken pursuant to Part II of the Malaysian Code on Take-overs and Mergers (Amendment) 2004 ("the Code") ("Mandatory Offer")

Contents :

We refer to the announcement dated 16 February 2005 in relation to the above wherein it was announced that Aseambankers Malaysia Berhad ("Aseambankers"), on behalf of the Board of Directors of I&P, had on 14 February 2005 sought an exemption from the Securities Commission ("SC") from complying with the requirements of Section 13(7) of the Code to post the offer document within 35 days from the date of the Mandatory Offer notice until such time the relevant approvals from the authorities and the shareholders of I&P for the Mandatory Offer has been obtained. On behalf of I&P, Aseambankers is pleased to announce that the SC has vide its letter dated 14 March 2005 approved the extension of time for the dispatch of the offer document to the shareholders of SPPK within 14 days from the receipt of all approvals from the relevant authorities and the shareholders of I&P for the Mandatory Offer.

This announcement is dated 16 March 2005.