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The salient terms of the MOU include, amongst others, the following:-

(a) The MOU is valid for a period of six (6) months from the date of the MOU or such later date(s) as the parties may agree upon in writing (the “Negotiation Period”) and will continue throughout the Negotiation Period unless terminated pursuant to the provisions of the MOU or upon entry by the parties into a share sale agreement. During the Negotiation Period, the parties shall negotiate with each other for the entry into a share sale agreement for the Proposed Acquisition (“SSA”); and

(b) The SSA shall be conditional on, amongst others, the approval of all relevant regulatory, governmental or other authorities including (without limitation) the Securities Commission (“SC”), Equity Compliance Unit of the SC under the Foreign Investment Committee requirements, Ministry of International Trade and Industry and the approval of the shareholders of KKB.

A more detailed announcement will be released upon signing of the definitive agreement.

The announcement is dated 20 February 2006.