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We are pleased to notify the Exchange that two Letters of Intent dated 28.6.1999 have been awarded by Meissner & Wurst (M) Sdn. Bhd., as contractor for 1st Silicon (Malaysia) Sdn. Bhd., to our Company as Subcontractor for the supply, fabrication, painting and erection of structural steel mill and process water storage/sprinkler system tank and ancillary pipework for the 1st Silicon Semiconductor Project, Kuching, Sarawak.

The total Subcontract sum is approximately RM6.3 million (Malaysia Ringgit Six Million Three Hundred Thousand only) subject to re-measure against submitted provisional bills of quantities. The duration of this sub-contract work is approximately four months.