Announcement
May 18, 2007

Updated : 18/05/2007

IJM CORPORATION BERHAD ("IJM”) or ("the Company")

Privatisation of Road Builder (M) Holdings Bhd ("RBH") through a scheme of merger and acquisition by way of:

(i)

acquisition of all the assets and liabilities of RBH for a total purchase consideration of RM1,564,641,207 to be satisfied entirely by the issuance of redeemable unsecured loan stocks in IJM having a total redemption value equivalent to the purchase consideration ("Proposed Acquisition"); and

(ii)

take-over offer by IJM for all the ordinary shares of RM1.00 each of RBH at the offer price of RM3.00 per share to be satisfied by the issuance of one (1) new ordinary share of RM1.00 each of IJM at the issue price of RM6.00 for every two (2) RBH shares held ("Offer").

We refer to the following:

(i)	the Securities Commission's ("SC") letter dated 27 January 2005 relating to the equity condition imposed by the SC on IJM to increase its Bumiputera equity by 2.49% of the enlarged issued and paid-up share capital within 2 years from the date of IJM's implementation of the proposed rights issue of warrants and proposed issuance of warrants ("Equity Condition"); and

(ii)	the SC's letter of approval dated 9 February 2007 for the Proposed Acquisition and the Offer, wherein the SC imposed a further condition that IJM is to submit its action plan to the SC at least 6 months before the compliance deadline, i.e. 23 February 2007, as to how it intends to comply with the Equity Condition ("SC Condition").

On 21 February 2007 and 17 April 2007, Aseambankers Malaysia Berhad ("Aseambankers") on behalf of IJM, had submitted an application for extension of time to allow IJM to comply with the SC Condition.

Aseambankers, on behalf of IJM, is pleased to announce that the SC has, vide its letter dated 17 May 2007, granted IJM an extension of time until 9 June 2007 to comply with the SC Condition.

This announcement is dated 18 May 2007.