Contents :

The letter dated 6 January 2004 from the Exchange regarding the following news article appearing in the New Straits Time, Business Times section, page B2 on Tuesday, 6 January 2004 refers:

"TELEKOM Malaysia Bhd, tipped to launch a RM2.5 billion to RM3.5 billion initial public offering (IPO) for its mobile arm Celcom...."

We wish to clarify as follows:-

a) TM has not ruled out the possibility of re-listing Celcom.

b) However, at this time, no decision has been made in respect of timing, size and price of the Celcom Shares to be offered pursuant to such re-listing exercise.

c) No decision has been made in respect to the appointment of advisers for the said re-listing exercise.

The decision to re-list Celcom will, inter alia take into account the succcess of the on-going integration exercise and the interest of optimizing value to the shareholders of TM.

Query Letter Contents :

We refer to the above news article appearing in the New Straits Times, Business
Times section, page B2, on Tuesday, 6 January 2004, a copy of which is
enclosed for your reference.
In particular, we would like to draw your attention to the underlined sentence,
which is reproduced as follows:-
"TELEKOM Malaysia Bhd, tipped to launch a RM2.5 billion to RM3.5 billion
initial public offering (IPO) for its mobile phone arm Celcom ..."
In accordance with the Exchange's Corporate Disclosure Policy, you are
requested to furnish the Exchange with an announcement for public release
confirming or denying the above reported article and in particular the
underlined sentence after due and diligent enquiry with all the directors,
major shareholders and all such other persons reasonably familiar with the
matters about which the disclosure is to be made in this respect. In the event
you deny the above sentence or any other part of the above reported article,
you are required to set forth facts sufficient to clarify any misleading
aspects of the same. In the event you confirm the above sentence or any other
part of the above reported article, you are required to set forth facts
sufficient to support the same.
Please furnish the Exchange with your reply within one (1) market day from the
date hereof.

Yours faithfully


LISA LAM
Sector Head, Issues & Listing
Regulatory Division
KLL/ZOOS
c.c. Securities Commission (via fax)