Article entitled: Landmarks to keep its resorts, sell Australian interest instead

We refer to the above article appearing on The Edge-Online, on Wednesday, 2 May 2001.

As mentioned in the various quarterly reports, Landmarks Group is taking steps to reduce and manage its debt. Substantially this will likely involve restructuring short term debt to long term debt. Earlier, the disposal of various assets was considered including selling the two resorts, The Datai and The Andaman, in Langkawi. At present though, to resolve its debt situation, there is no need for the Group to sell the resorts especially as Landmarks has the option of selling its interest in Mayne Nickless Ltd .

Query Letter content :
We refer to the above article appearing on The Edge-Online, on Wednesday, 2 May 2001, a copy of which is enclosed for your reference. In particular, we would like to draw your attention to the underlined sentence, which stated the following:- "... decided not to sell its two resorts in Langkawi..." In accordance with the Exchange's Corporate Disclosure Policy, you are requested to furnish the Exchange with an announcement for public release confirming or denying the above reported sentence after due and diligent enquiry with all the directors, substantial shareholders and all such other persons reasonably familiar with the matters about which the disclosure is to be made in this respect. In the event you deny the above reported sentence, you are required to set forth facts sufficient to clarify any misleading aspects of the same. In the event you confirm the above reported sentence, you are required to set forth facts sufficient to support the same.

Please furnish the Exchange with your reply within one (1) market day from the date hereof.

Yours faithfully,
Inderjit Singh
Senior Manager, Listing Operations

SA/WR/THY