Contents :

Pursuant to the Main Agreement dated 22 February 2005 between Celcom, SESCO, CT Sarawak and Sacofa Sdn Bhd, the disposal by Celcom to SESCO of 8,212,270 ordinary shares of RM1.00 each in CT Sarawak (“Tranche 1 Shares”) for a total consideration of RM23.8 million to be satisfied by the novation by Celcom to SESCO, of an outstanding debt in the sum of RM23.8 million owed by Celcom to CT Sarawak has been completed today.

In connection therewith, Celcom’s shareholding in CT Sarawak has been reduced from 60% to 27.15% and CT Sarawak ceased to be a subsidiary of Celcom from the date hereof.

Pursuant to clause 5.5 of the Main Agreement, Celcom, SESCO and CT Sarawak will, upon completion of the sale and purchase of the Tranche 1 Shares, release and discharge each other from the Legal Actions (as defined in the Main Agreement) and all matters in relation thereto.

Celcom, SESCO and CT Sarawak are required within 7 days from the date hereof to provide to each other the relevant notices of withdrawal/discontinuance and other documents in relation to the Legal Actions. The said notices and documents are to be filed with the respective Courts within 14 days from the date hereof.