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20 February 2011

Khazanah enters second stage of Pos Malaysia strategic divestment

Khazanah Nasional Berhad (“Khazanah”) is pleased to announce that it has entered into the Second Stage of the divestment process of its 32.21 percent stake in Pos Malaysia Berhad (“Pos Malaysia”).

Whilst still working on Stage One pertaining to Pos Malaysia’s macro business environment, the Second Stage will run concurrently, commencing with the restricted tender process that will emphasize on sound strategies and business plans that are sustainable to bring Pos Malaysia to the next level of growth.

The assessment would also include bidders’ ability to ensure Pos Malaysia continues with its Universal Service Obligations (“USO”) as well as the commitment to retain staff.

The divestment will undergo a fair and transparent process. This process will provide a level playing field, giving all proposals submitted by bidders an equal opportunity.

An independent evaluation panel comprising five professionals from the public and private sector with extensive postal and corporate experience will evaluate all bidders’ proposal on an anonymous basis.

The bidders will be considered based on their strategy and business plan followed by the offer price. The name of the shortlisted bidders will be revealed to the panel after the shortlisting process is completed.

These shortlisted bidders will then be invited to submit their revised strategy and business plan as well as their final offer. Hence, contrary to recent speculations in the media, there is neither a leading nor lagging bidder at the current stage of the bid process.

Bidders must be 51 percent owned and controlled by Malaysians, with a profile that fits the goal of diversity in terms of ownership under the “1 Malaysia” concept including Bumiputera participation. They must also possess strong entrepreneurship and management capabilities with proven track record.

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