ASIAEP BHD PUBLIC ISSUE OF 60,000,000 NEW ORDINARY SHARES OF RM0.10 EACH AT AN ISSUE PRICE OF RM0.30 PER ORDINARY SHARE PAYABLE IN FULL ON APPLICATION IN CONJUNCTION WITH ITS LISTING ON THE MESDAQ MARKET OF THE MALAYSIAN SECURITIES EXCHANGE BERHAD

MIH is pleased to announce that the AsiaEP Bhd Public Issue under which 2,000,000 shares were made available for application by the public has been oversubscribed and balloting of successful applications was conducted this afternoon. The Placement Agent has confirmed that the Placement of 47,500,000 shares to selected investors has been fully placed out.

The Public Issue of AsiaEP Bhd involves 4,000,000 Shares reserved for eligible employees, directors and business associates; 47,500,000 Shares reserved for private placement; 6,500,000 Shares by way of call option; and 2,000,000 Shares made available for application by public investors.

A total of 44,645 applications for 402,788,100 shares were received from the public for a total of 2,000,000 shares available for public subscription, which represents an oversubscription rate of 200.39 times.

All Notices of Allotment for these shares will be mailed to successful applicants on or before January 15, 2004.

The Adviser, Managing Underwriter, Placement Agent and Sponsor for the Public Issue is K & N Kenanga Bhd.

JANUARY 7, 2004