Contents :

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 Telekom Technology Sdn Bhd ("TTSB"), a joint venture company between Telekom Malaysia Berhad and Prism Holdings Limited, the principal activity of which is to operate and offer secure electronic transactions and e-commerce services to the public and businesses.

TTSB is in the process of procuring the central systems, network and terminal equipment for its operation. TTSB is currently negotiating with business partners such as banks, bill issuers and merchants, towards achieving its business objectives. Employees are being recruited and the services are planned to be offered to the public before August 2001.