IJM CORPORATION BERHAD (“IJM” OR THE “COMPANY”)

PROPOSED RATIONALISATION

We refer to the announcements dated 25 July 2007 and 19 December 2007 made by AmInvestment Bank Berhad, a member of AmInvestment Bank Group (“AmInvestment Bank”), on behalf of the Company in relation to the Proposed Rationalisation. Unless stated otherwise, the definitions or abbreviations used in this announcement shall have the same meaning as defined in the aforesaid announcements.

On behalf of the Company, AmInvestment Bank is pleased to announce that the Securities Commission (“SC”) has via its letter dated 10 April 2008 approved the following:-

i)
Distribution in-specie by IJM to its shareholders of up to 88,469,272 RB Land Warrants to be subscribed by IJM pursuant to the Proposed RB Land Rights Issue With Warrants, on the basis of one (1) RB Land Warrant for every ten (10) IJM Shares held, on an entitlement date to be determined later (Proposed Dividend In-Specie); and

ii)
Offer for sale (“OFS”) of 60,000,000 RB Land Warrants to be subscribed by IJM pursuant to the Proposed RB Land Rights Issue With Warrants, to entitled senior management of the IJM Group at an offer price of RM0.39 per OFS Warrant (Proposed Offer to Senior Management).

The approval is subject to the condition that AmInvestment Bank and IJM are to fully comply with the relevant requirements pertaining to the implementation of the Proposed Dividend In-Specie and Proposed Offer to Senior Management as stipulated in the Policies and Guidelines on the Issue/Offer of Securities of the SC.

In addition, the SC has also via a separate letter dated 10 April 2008 approved, inter alia, the Proposed RB Land Rights Issue With Warrants, the details of which are set out in the announcement attached herein released by RB Land on 11 April 2008 in relation to the Proposed Rationalisation.

This announcement is dated 11 April 2008.