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Pursuant to the Practice Note No. 1/2000 on Disclosure in relation to internet-related business or e-commerce activities issued by the Kuala Lumpur Stock Exchange, we are pleased to announce on the progress of MySPEED, a joint venture company between Telekom Malaysia Berhad ("TM"), Pernec Corporation Berhad, Heitech Padu Sdn Bhd and Bank Islam Malaysia Berhad.

MySPEED is currently developing the Business Process Reengineering (BPR) for the e-Services involving the Road Transport Department ("JPJ"), TM and Tenaga Nasional Berhad ("TNB"). The company was one of the three companies awarded by the government (in May 2000) to be the Service Providers of the e-services pilot project.

The company has engaged the services of Intaha Consultant Sdn Bhd as its BPR consultant and the BPR report is expected to be ready by middle November 2000.