Purchase Of A Subsidiary Company - Nesline Sdn Bhd

General Announcement Reference No RP-020325-54115

Company Name	:	RELIANCE PACIFIC BERHAD
Stock Name	:	RPB
Date Announced	:	28/03/2002

Type	:	Announcement
Subject	:	Purchase of a subsidiary company - Nesline Sdn Bhd

Contents :

We refer to the abovementioned and we are pleased to inform you of the following :

Nesline Sdn Bhd ( co. no.572449K ) ("Nesline") was purchased on 26th March 2002 as a "shelf company" by the wholly- owned subsidiary company of RPB, Fortune Valley Sdn Bhd at a consideration of RM2.00.

Nesline has an authorised capital of RM100,000 and an issued and paid up capital of RM2.00 ordinary shares of RM1.00 each.

There is no material effects on RPB's group earnings per share and net tangible assets per share for the financial year ending 31st March 2002.

There is no directors or substantial shareholders interest in respect of the aforesaid transaction. No government authorities approval is required.

Rationale

Nesline will be used as future investment vehicle within the RPB group.

Thank You.