Acquisition Of A 50% Plus One Share Interest In Mont Kiara Specialist Centre Sdn Bhd ("MKSC")

1. On 23 March 2001 Landmarks Berhad ("Landmarks") announced that Point Merge Sdn Bhd ("PMSB"), a Landmarks wholly owned subsidiary, had entered into a Share Sale Agreement and a Shareholders Agreement ("the Agreements") with Consolidated Bond (M) Sdn Bhd ("CBSB") to acquire a 50% plus one share interest in the share capital of MKSC ("the Transaction").

2. MKSC is the owner and developer of a piece of land on which is proposed to be developed a hospital to be known as "Mont Kiara Specialist Centre"

3. The acquisition is subject to the following approvals:

a) approval from all relevant authorities for the construction, development and operation of the proposed hospital;

b) approval, or no objection, of the Foreign Investment Committee to the acquisition of the shares; and

c) approval of the shareholders of Landmarks.

Landmarks is pleased to announce that the Foreign Investment Committee has no objection to the Transaction subject to the following conditions:-

i) MKSC increasing its Bumiputera equity to at least 30% before 31 December 2002; and

ii) PMSB increasing its paid up capital to at least RM300,000 before 31 December 2002 or after the Transaction is completed , whichever is earlier.

Both CBSB and PMSB have agreed to accept the conditions imposed.