Incorporation Of Subsidiary Company

General Announcement Reference No RP-040528-62709

Company Name	:	RELIANCE PACIFIC BERHAD
Stock Name	:	RPB
Date Announced	:	28/05/2004

Type	:	Announcement
Subject	:	Incorporation of subsidiary company

Contents :

We refer to the above and we are pleased to inform you that on 26 May 2004 we have incorporated a company named Reliance Sightseeing (Labuan) Ltd (Co. No. LL 04263) (hereinafter referred to as "RSB Labuan") in Labuan.

RSB Labuan has an authorised capital of USD13,157 (equivalent to RM50,000) and paid up capital of USD1.00.

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 2005.

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

Rationale:

RSB Labuan will be used as future investment vehicle within the RPB Group.