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"QUOTE

Aseambankers Malaysia Berhad ("Aseambankers"), had on 6 August 1999, announced the approval of Bank Negara Malaysia ("BNM") for the commencement of negotiations with several financial institutions with a view of merging the operations of the respective financial institutions with the Maybank Group. Pursuant to the earlier announcement, Aseambankers, on behalf of the Board of Directors of Maybank, is pleased to announce that on 17 September 1999, Maybank have entered into a Memorandum of Understanding ("MOU") with The Pacific Bank with the intention for the former to purchase all the assets and acquire all the liabilities of The Pacific Bank or to acquire the entire issued and paid-up capital of The Pacific Bank.

The signing of the MOU sets out the intentions of the parties for the Proposed Merger of The Pacific Bank and to facilitate the commencement of the financial and legal due diligence.

The abovementioned Proposed Merger is subject to the following:

1. formal execution of the relevant Sale and Purchase Agreement and/or Merger of Business Agreement;
2. approval from the relevant authorities; and
3. approval from the respective shareholders at an Extraordinary General Meeting to be convened.

Further details on the outcome of the proposed acquisition will be announced in due course.

Yours faithfully for and on behalf of Aseambankers Malaysia Berhad
Rohaya Yusof Head Corporate Finance	Wong Yoke Nyen General Manager Corporate Finance

17 September 1999
Kuala Lumpur

Copy to: Malayan Banking Berhad
The Board of Directors

Securities Commission
Mr Siow Kim Lun