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Pursuant to Practice Note No. 3/2001 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 has obtained a conditional approval from Bank Negara Malaysia on 8 August 2001 to operate an electronic front end devices for bills payments pursuant to Section 119 of the Banking and Financial Institutions Act 1989. TTSB is expected to soft-launch its product in September 2001.

TTSB has commenced operation in the middle of August 2001 and has started generating revenue.