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The Winding-up of Freemantle is expected to be completed by November 2007 or about 16 months from the date of appointment of the Liquidators.

Information on Freemantle

Freemantle was incorporated in Malaysia on 7 September 1990. Its present authorised capital are RM15,000,000 comprising 11,700,000 ordinary shares of RM1.00 each and 3,300,000 preference shares of RM1.00 each respectively. Its present issued and paid-up capital are RM13,504,080 comprising 10,204,080 ordinary shares of RM1.00 each and 3,300,000 preference shares of RM1.00 each respectively. The principal activity of the Company was investment holding. The Company has ceased its operations since 2003.

Rationale for the Winding-up

The Winding-up proceeding of Freemantle is part of the rationalisation and streamlining exercise of the TM Group.

Financial Effects of the Winding-up

The Winding-up of Freemantle will not have any material effect on TM Group.

Directors’ and Substantial Shareholders’ Interest

None of the Directors and Substantial Shareholders of TM or persons connected with them has any interest, direct or indirect, in the Winding-up.

Directors’ Opinion on the Winding-up

On behalf of the Board of Directors of TM, TM’s Group Chief Executive Officer confirmed that the Winding-up is in the best interest of TM.