NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES

On behalf ofTM's Board of Directors,CIMB Investment Bank Berhad wishes to announce that TM proposes to undertake a disposal of up to 191,458,007 Axiata Shares (representing approximately 2.27% equity interest in Axiata), which are currently held by TM’s wholly-owned subsidiary, TM ESOS Management Sdn Bhd. The Proposed Disposal is to be satisfied entirely by cash and undertaken through the following modes:

(i) private placement(s) via a bookbuilding process to eligible third-party institutional/sophisticated investors; and/or
(ii) open market disposal(s).

Please refer to the attachment for the full announcement.

This announcement is dated 2 December 2010.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States or any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to, or absent registration or qualification under the securities laws of any such jurisdiction. No securities may be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Any public offering of securities to be made in the United States will be made by means of a prospectus. Such prospectus will contain detailed information about the company making the offer and its management and financial statements. TM does not intend to register any portion of the offering in the United States and or to conduct a public offering in the United States.

No prospectus which complies with the requirements of the CMSA and the guidelines of the SC has been registered with the SC pursuant to the CMSA or with any other regulatory body in Malaysia. No securities may be offered or sold to any person in Malaysia, except to a person falling within Schedule 6 of the CMSA.

FORWARD-LOOKING INFORMATION

Forward-looking statements in this announcement are based on current expectations. These statements are not guarantees of future events or results. Future events and results involve some risks, uncertainties and assumptions that are difficult to predict. Actual events and results could vary materially from the description contained herein due to many factors including changes in the market, changes in the business and financial condition of TM, Axiata and their respective subsidiaries, and changes in the capital markets in general.