Contents :

(I) THE PROPOSED ACQUISITIONS BY MAYBAN FORTIS OF:

- 21,721,234 ORDINARY SHARES OF RM1.00 EACH REPRESENTING APPROXIMATELY 7.68% OF THE ISSUED AND PAID UP SHARE CAPITAL OF MNIH (AS AT 23 AUGUST 2005) FROM PERMODALAN NASIONAL BERHAD; AND

- 188,339,262 ORDINARY SHARES OF RM1.00 EACH REPRESENTING APPROXIMATELY 66.56% OF THE ISSUED AND PAID UP SHARE CAPITAL OF MNIH (AS AT 23 AUGUST 2005) FROM AMANAH RAYA NOMINEES (TEMPATAN) SDN BHD - SKIM AMANAH SAHAM BUMIPUTERA,

(COLLECTIVELY REFERRED TO AS THE "PROPOSED MNIH ACQUISITION"); AND

(II) MANDATORY GENERAL OFFER ("MGO") BY MAYBAN FORTIS FOR THE REMAINING SHARES IN MNIH NOT ALREADY HELD BY MAYBAN FORTIS ("MNIH MGO"); AND

(B) MGO BY MNIH FOR THE REMAINING SHARES IN MALAYSIA NATIONAL INSURANCE BERHAD, A 98.59%-OWNED SUBSIDIARY OF MNIH, NOT ALREADY HELD BY MNIH ("MNIB MGO").

(THE PROPOSED MNIH ACQUISITION, MNIH MGO AND MNIB MGO ARE COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

We refer to the announcements dated 26 August 2005 and 29 August 2005 in relation to the above.

Mayban Fortis had submitted an application in relation to the Proposals to the Foreign Investment Committee ("FIC"). Pursuant to the above, Aseambankers Malaysia Berhad, on behalf of Maybank, is pleased to announce that the FIC, vide its letter dated 17 October 2005 (which was received on 18 October 2005), had no objections to the Proposals.

This announcement is dated 18 October 2005.