Release: Zelan: Further announcement award PLTU Rembang power plant project

(21 March 2007)--Reference is made to the Company's General Announcement to Bursa Malaysia dated 22nd February 2007.

Further to the above said announcement, the Company wishes to announce that the unincorporated consortium consisting of the Company (15%), its wholly-owned subsidiary, Zelan Holdings (M) Sdn Bhd (55%) and PT Priamanaya Djan International, Indonesia (30%) (collectively the "Consortium") had on 21st March 2007 entered into the Contract Agreement with PT Perusahan Listrik Negara (PLN) (Persero) for the design, engineering, procurement, commissioning and construction of a 2x(300-400MW) coal-fired power plant to be located at Rembang, Central Java Province, Indonesia (the "Project") for a revised combination Contract Price (including value added tax) of US$338.8 million. (end of release)