Incorporation Of Subsidiary Company Ideal Malaysian Support Sdn Bhd

General Announcement Reference No RP-990729-64583

Company Name	:	RELIANCE PACIFIC BERHAD
Stock Name	:	RPB
Date Announced	:	29/07/1999

Type	:	Announcement
Subject	:	INCORPORATION OF SUBSIDIARY COMPANY IDEAL MALAYSIAN SUPPORT SDN BHD

Contents :

We refer to the above and would like to provide the following information :-

Ideal Malaysian Support Sdn Bhd was incorporated on 9th July 1999 and is wholly-owned by Reliance Shipping & Travel Agencies Sdn Berhad on 26 July 1999. The latter is a wholly-owned subsidiary of Reliance Pacific Berhad (RPB).

It has an authorised capital of RM100,000.00 and an issued and paid up capital of 2 ordinary shares at RM1.00 each.

The aforesaid transaction has no material effects on RPB's Group's earnings per share and net tangible assets per share for the financial year ending 31st March 2000.

There are no directors or substantial shareholders interest in respect of the above transactions. Further, no approvals from government authorities are required.


Rationale

The aforesaid company will be used as future investment vehicle within the group.

Should you require any further clarification, please contact the undersigned.

Thank you.