Disposal Of Shares In Mayne Nickless Limited

Landmarks announces that it has disposed 462,114 shares in Mayne Nickless Limited ("Disposed Shares"). Mayne Nickless Limited ("MNL") is listed on the Australian Stock Exchange with principle activities as provider of integrated services with its primary focus on health related industry and logistics.

Disposed Shares
1.1 The disposals were made through contracts in the open market on the following date:-

Contract Date Price (AUD$) Quantity Consideration (AUD) Net Proceeds (AUD$) 24 May 2001 6.50 462,114 3,003,741 2,987,220       Total Proceeds 2,987,220

1.2 Total proceeds from Disposed Shares in Ringgit are approximately RM5.884 million (For the purpose of this announcement the exchange rate use is AUD1.00: RM1.97). The balance of MNL shares held by Landmarks after the disposal is 6,709,923.

1.3 A total of 3.5 million MNL shares were disposed since 11 April 2001 ("Accumulated Disposed Shares") with total net proceeds of AUD22.653 million/ RM44.731 million.

Cost of investment
2.1 The original cost and net book value of MNL shares is AUD5.56/RM10.95 per share. Total net book value/original cost of Disposed Shares is AUD2.569 million/RM5.061 million.

2.2 Total net book value/original cost of Accumulated Disposed Shares is AUD19.460 million/RM38.336 million.