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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 the following progress of Telekom Technology Sdn Bhd ("TTSB"), a joint venture company between Telekom Malaysia Berhad ("TM") and Prism Holdings Limited ("PHL") :-

1. The Technical Services Agreement between the shareholders of the Company is being finalised.
2. Meetings have been held with proposed Technology Partners and joint workshops on integration and interfacing of the switching system and technology.
3. A joint operation/implementation meeting has been coordinated by the shareholders to review the project time-lines .
4. Meetings with financial institutions have been coordinated to seek the best commercial and technical arrangements for TTSB.