IJM Properties Sdn Bhd (“IJMP”) has today entered into a Share Sale Agreement with Larut Overseas Ventures Sdn Bhd (“LOV”) to acquire 1,515,000 ordinary shares of HK$1 each representing 50% equity interest in Larut Leisure Enterprise (Hong Kong) Limited (“LLE”), Hong Kong for HK$1 (“the Proposed Acquisition”).  IJMP will also assume a loan of RM25.63 million from the Talam Group to LLE.

LLE owns a 60% equity interest in Jilin Dingtai Enterprise Development Co Ltd, which owns a partially completed “Yin Hai Complex” in Changchun, Jilin Province, Peoples Republic of China.  The gross sales value of the proposed 35-storey commercial cum residential complex is estimated at CNY745 million (approximately RM340 million).

IJMP is a wholly-owned subsidiary of the Company.  LLE is a wholly-owned subsidiary of LOV, which is a wholly-owned subsidiary of Talam Corporation Berhad.

None of the Directors nor substantial shareholders of the Company, or persons connected with them, has any interest, direct or indirect, in the Proposed Acquisition, and no approval of shareholders is required.  The Proposed Acquisition is not expected to have any significant effect on the earnings or net assets per share of the Company for the financial year ending 31 March 2008.