Purchase Of A Subsidiary Company-tower Reign Sdn Bhd

General Announcement Reference No RP-030820-67906

Company Name	:	RELIANCE PACIFIC BERHAD
Stock Name	:	RPB
Date Announced	:	20/08/2003

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

Contents :

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

Tower Reign Sdn Bhd (co. no. 624724 T) was purchased on 18th August 2003 as a "shelf company" by the subsidiary company of RPB, RPB Hotels International Sdn Bhd (co. no. 302950 V) at a consideration of RM2.00.

Tower Reign Sdn Bhd 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 the RPB group's earnings per share and net tangible assets per share for the financial year ending 31st March 2004.

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

Rationale

Tower Reign Sdn Bhd will be used as future investment vehicle within the RPB group.