The article appearing in the Bernama.com on 31 January 2009 is referred.

Bernama had referred to the article (entitled “Tax sleuths probe Malaysian’s link”) of The Economic Times, which had on 28 January 2009 reported that our Country Director (India) and Executive Director of our subsidiary IJM (India) Infrastructure Limited (“IJMII”), Mr Ng Chin Meng was purported to be on the list of 30 individuals, who have links with the Satyam Computer Services Group, which is being investigated by the Indian Tax Authorities in relation to the Satyam fraud case.

The Economic Times had stated in their article that the Indian Tax Authorities are “seeking information on land dealings and other transactions,” and we have been informed by Mr Ng that he has not received any official inquiry from the Indian Tax Authorities to date.

In addition, in the article (entitled “How Raju is Raja in Malaysia”) by The Times of India on 30 January 2009, it was stated that industry observers found it “hardly surprising to find Ng Chin Meng’s name figuring” on the list although they speculated “whether Ramalinga Raju could have used Chin Meng’s local identity for land dealings” in Malaysia, and “was perhaps only used for these dealings that were otherwise finalised by Krishnan Tan.”    

The Company wishes to state that neither the Company, IJMII, our CEO & Managing Director, Dato’ Krishnan Tan, nor Mr Ng have any land dealings with Satyam/Maytas or its promoters in India or Malaysia or elsewhere, in their personal capacities or on behalf of the Company.  The Company will extend its full cooperation to the Indian Tax Authorities, if needed.

A copy of the Press Release by IJMII on 31 January 2009 in relation to the articles in India is enclosed for your reference.