General Announcement Reference No AA-070820-62682

Company Name	:	ASIAEP BHD (MESDAQ Market)
Stock Name	:	ASIAEP
Date Announced	:	20/08/2007

Type	:	Announcement
Subject	:	ASIAEP BERHAD ("ASIAEP" OR THE ""COMPANY") EXTENSION OF THE DURATION OF ASIAEP BERHAD'S EMPLOYEES' SHARE OPTION SCHEME ("SCHEME")

Contents :

asiaEP Berhad is pleased to announce that the Board of Directors of asiaEP had upon recommendation of the Option Committee (as defined in the by-laws of the Scheme") approved the proposal to extend the existing Scheme for a further period of up to three (3) years.("Extension").

The existing Scheme became effective on 27 August 2004 and shall expire on 27 August 2007 ("Date of Expiry"). The Extension shall take effect commencing on the Date of Expiry of the existing Scheme up to the end of three (3) years from the date thereof ("Extended Scheme").

The Board of asiaEP wish to highlight that there has been no revisions and/or changes to the relevant laws and/or regulations currently in force which warrants revisions and/or changes to the terms of the existing by-laws. The Extended Scheme shall be implemented in accordance to the terms of the existing by-laws. Pursuant to the by-laws, no further approvals of the relevant authorities shall be required for the Extension provided that the Company shall serve appropriate notices on each Grantee (as defined in the by-laws) and make any necessary announcements to Bursa Securities Malaysia Berhad within thirty (30) days prior to the expiry of the existing Scheme.

Accordingly, the Company shall serve an appropriate notices on each Grantee of the Extended Scheme in due course.

This announcement is dated 20 August 2007.

c.c. Securities Commission

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