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Not for distribution in the United States of America
We refer to our announcements dated 10 December 2007 and 26 December 2007 in relation to, amongst others, the Proposals. On behalf of TM’s Board of Directors, we are pleased to announce that the Securities Commission had, through its letter dated 24 January 2008, approved the following: (i) an exemption under Practice Note 2.9.7 of the Malaysian Code on Take-Overs and Mergers, 1998 (“Code”) for Telekom Enterprise Sdn Bhd (“TESB”) and person acting in concert with TESB from an obligation to carry out a mandatory take-over offer to acquire the remaining voting shares of Fibrecomm Network (M) Sdn Bhd; and (ii) a ruling under Practice Note 2.2 of the Code that TM International is not obligated to carry out a mandatory take-over offer to acquire the remaining voting shares of Celcom Timur (Sabah) Sdn Bhd, upon the Proposed Internal Restructuring (as defined in our announcement dated 10 December 2007) becoming unconditional. On behalf of TM’s Board of Directors, we are also pleased to announce that the Minister of Finance, Incorporated, as the holder of TM’s Special Rights Redeemable Preference Share, had, through its letter dated 22 January 2008, approved the Proposed Demerger. This announcement is dated 28 January 2008. This announcement is not an offer for sale of securities in any jurisdiction, including in the United States of America (“US”). Securities may not be offered or sold in the US absent registration or an exemption from registration under the US Securities Act 1933, as amended. None of TM, TM International or any seller of securities intends to register any portion of the offering in the US or to conduct a public offering of securities in the US.