General Announcement Reference No MI-070924-52515

Submitting Merchant Bank	:	RHB INVESTMENT BANK BERHAD
Company Name	:	ASIAEP BHD (MESDAQ Market)
Stock Name	:	ASIAEP
Date Announced	:	24/09/2007

Type	:	Announcement
Subject	:	asiaEP BHD ("asiaEP" or "Company") - Proposed acquisition of 800,000 ordinary shares of RM1.00 each in General Perfect Sdn Bhd ("GP") ("GP Shares") representing 80% equity interest therein, for a consideration of RM23.2 million ("Proposed Acquisition")

Contents :

We refer to the earlier announcement dated 23 July 2007 whereby RHB Investment Bank Berhad (formerly known as RHB Sakura Merchant Bankers Berhad) ("RHB Investment Bank") had, on behalf of the Board of Directors of asiaEP ("Board"), announced that the Company had accepted a non-binding offer dated 20 July 2007 ("Offer") from Liang Chee Wah and Liang Chee Hoo (collectively referred to as the "Vendors") to acquire 800,000 GP Shares representing 80% equity interest therein for a cash consideration of RM23.2 million. The terms of the Offer are preliminary in nature and subject to the execution of a formal conditional acquisition agreement to be entered into between the Vendors and asiaEP within 60 days from the acceptance date of the Offer on 23 July 2007 ("Acquisition Agreement").

On behalf of the Board, RHB Investment Bank wishes to announce that the Company and the Vendors had, on 22 September 2007, mutually agreed to extend the time for the execution of the Acquisition Agreement for another sixty (60) days from 22 September 2007 or such other date to be mutually agreed upon in writing by the parties.

This announcement is dated 24 September 2007.

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