Reliance Pacific Berhad ("Rpb" Or "The Company") - Adjustment To The Exercise Price And Number Of Warrants Of Rpb Pursuant To:- (I) Bonus Issue Of 24,530,050 New Ordinary Shares Of Rm1.00 Each On The Basis Of One (1) New Ordinary Share For Every Four (4) Existing Ordinary Shares Of Rm1.00 Each Held At 5.00 P.M. On 23 August 2004 ("Bonus Issue"); And (Ii) Two-Call Rights Issue Of 49,060,100 New Ordinary Shares Of Rm1.00 Each At An Issue Price Of Rm1.00 Each (Of Which The First Call Of Rm0.65 Is Payable In Cash On Application And The Second Call Of Rm0.35 Is Payable Out Of The Company's Share Premium Account) On The Basis Of One (1) New Ordinary Share For Every Two (2) Existing Ordinary Shares Of Rm1.00 Each Held At 5.00 P.M. On 23 August 2004 ("Two-Call Rights Issue")

General Announcement Reference No MM-040823-74981

Submitting Merchant Bank	:	AMMERCHANT BANK BERHAD
Company Name	:	RELIANCE PACIFIC BERHAD
Stock Name	:	RPB
Date Announced	:	24/08/2004

Type	:	Announcement
Subject	:	RELIANCE PACIFIC BERHAD ("RPB" or "THE COMPANY") - ADJUSTMENT TO THE EXERCISE PRICE AND NUMBER OF WARRANTS OF RPB PURSUANT TO:- (I) BONUS ISSUE OF 24,530,050 NEW ORDINARY SHARES OF RM1.00 EACH ON THE BASIS OF ONE (1) NEW ORDINARY SHARE FOR EVERY FOUR (4) EXISTING ORDINARY SHARES OF RM1.00 EACH HELD AT 5.00 P.M. ON 23 AUGUST 2004 ("BONUS ISSUE"); AND (II) TWO-CALL RIGHTS ISSUE OF 49,060,100 NEW ORDINARY SHARES OF RM1.00 EACH AT AN ISSUE PRICE OF RM1.00 EACH (OF WHICH THE FIRST CALL OF RM0.65 IS PAYABLE IN CASH ON APPLICATION AND THE SECOND CALL OF RM0.35 IS PAYABLE OUT OF THE COMPANY'S SHARE PREMIUM ACCOUNT) ON THE BASIS OF ONE (1) NEW ORDINARY SHARE FOR EVERY TWO (2) EXISTING ORDINARY SHARES OF RM1.00 EACH HELD AT 5.00 P.M. ON 23 AUGUST 2004 ("TWO-CALL RIGHTS ISSUE")

Contents :

Reference is made to the annoucements dated 5 August 2004.

Pursuant to RPB's Bonus Issue and Two-Call Rights Issue and in accordance with the deed poll dated 5 April 1995 of RPB, an additional of up to 9,441,924 new warrants will be issued to warrant holders on the basis of 0.3536 new warrants for every one (1) existing warrant held at 5.00 p.m. on 23 August 2004, and the exercise price will be revised downwards from RM2.55 to RM1.89.

These adjustments take effect from 24 August 2004, being the commencement of the date next following 23 August 2004, the entitlement date for the Bonus Issue and Two-Call Rights Issue.

An information circular, setting out details of the adjustments, would be issued to warrant holders in due course.

This announcement is dated 24 August 2004.