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The Board of Directors of Maybank wishes to announce that it has obtained approval from Bank Negara Malaysia to commence negotiations with Permodalan Nasional Berhad ("PNB") and Amanah Raya Nominees (Tempatan) Sdn Bhd - Skim Amanah Saham Bumiputera ("ARN-ASB") for the proposed acquisition by Maybank and/or its subsidiary, Mayban Fortis Holdings Berhad ("Mayban Fortis"), of PNB and ARN-ASB’s equity interests in MNI Holdings Berhad.

The above approval is preliminary and final regulatory approval would be needed for Maybank and/or its subsidiary, Mayban Fortis, PNB and ARN-ASB to enter into any subsequent agreement. Maybank will keep Bursa Malaysia Securities Berhad informed of further developments in respect of the above matter.

This announcement is dated 26 August 2005.