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Pursuant to Practice Note No. 1/2000 issued by the Exchange on Disclosure in relation to internet-related business or e-commerce activities, we are pleased to announce the progress of MySPEED.com Sdn Bhd ("MySPEED"), a joint venture company between Telekom Malaysia Berhad, Pernec Corporation Berhad, Heitech Padu Sdn Bhd and Bank Islam Malaysia Berhad, the principal activity of which is to provide the following services, namely, the Electronic Delivery of Driver And Vehicle Registration Licencing and Summons Services, Utility Bill Payment, limited to payment of electricity and telephone bills, and Ministry of Health On-line Information and others.

The Business Process Re-engineering (BPR) reports, which are divided into modules are being delivered and signed-off in stages. The signed-off BPR, to date are Summons services and KEJARA information (JPJ3), Tenaga Nasional Berhad services and JPJ Revenue Collection and Remittance Process Flows (JPJ4).The JPJ Licencing Services (JPJ1) is due to be signed off whilst telephony bills of Telekom Malaysia Berhad are still pending. MySPEED's proposals for services for Polis Diraja Malaysia and Jabatan Kastam dan Eksais Diraja are in progress.

The Change Management Plan development has commenced and the Benefit Realisation and Communication Plans have been submitted to the government.

The roll-out of the system is targeted to take effect from 5 June 2001.