Acquisition of 6% of the issued and paid-up capital of Worldwide Ventures Sdn Bhd

IJM Properties Sdn Bhd (“IJMPRP”) has today entered into an Agreement for Sale and Purchase of Shares with Nikmat Bersepadu Sdn Bhd to acquire 1,200,000 ordinary shares of RM1 each, representing 6% of the issued and paid-up capital of Worldwide Ventures Sdn Bhd (“WVSB”) for a total cash consideration of RM1,440,000 (or at RM1.20 per share). With the acquisition, WVSB will become an 86% subsidiary of IJMPRP, which in turn is a wholly-owned subsidiary of the Company. WVSB is involved in property development and investment holding.

None of the Directors or the major shareholders of the Company, or persons connected with them, has any interest, direct or indirect, in the acquisition, and no approval of shareholders is required. The acquisition will not have any significant effect on the earnings or net assets per share of the Company for the financial year ending 31 March 2008.