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17 February 2007

CLARIFICATION ON DESTINATION RESORT DEVELOPMENT IN ISKANDAR DEVELOPMENT REGION

Khazanah Nasional Berhad (“Khazanah”) would like to clarify on various news reports recently on the subject of a theme park development in the Iskandar Development Region (“IDR”).

In 2006, Khazanah commenced a study to evaluate the feasibility of establishing a Destination Resort in the IDR. The study has incorporated work undertaken by the UEM Group in the past, but following the de-gearing exercise of UEM Land, where the land earmarked for the Destination Resort was part of the parcels of land to be disposed to Khazanah, the study is no longer coordinated by the UEM Group.

In this regard, any ongoing or future evaluation process for the Destination Resort would be undertaken by Khazanah, and any announcement on this matter would be made by Khazanah at the appropriate juncture.

Khazanah does not expect to make any announcements regarding this study any time in the near future.



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