Landmarks Berhad

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March 31, 2010

Option Agreement between Landmarks Hotels & Realty Sdn Bhd ("LHR") and Peremba Sejagat Sdn Bhd ("PSSB") and the Proposed Disposal of the Business and Assets in relation to the Management and Operation of Carcosa Seri Negara ("CSN")

General Announcement

Reference No LL-100331-57721

Company Name	:	LANDMARKS BERHAD
Stock Name	:	LANDMRK
Date Announced	:	31/03/2010

Type

Announcement

Subject

Option Agreement between Landmarks Hotels & Realty Sdn Bhd ("LHR") and Peremba Sejagat Sdn Bhd ("PSSB") and the Proposed Disposal of the Business and Assets in relation to the Management and Operation of Carcosa Seri Negara ("CSN")

Contents

We refer to the announcement on the above dated 27 June 2008. All references used herein shall have the same meaning set out in the previous announcement unless otherwise indicated.

The Government of Malaysia has agreed to confirm the appointment of PSSB to manage and operate CSN on terms acceptable to PSSB. In accordance with the terms of the Option Agreement, PSSB has on 30 March 2010 served a written notice to LHR to exercise the Option ("Notice"), excluding the option to purchase the Management Agreement which had expired on 31 December 2009.

Under the terms of the Option Agreement, the purchase consideration of RM2 million for the Proposed Disposal will be deemed to have been satisfied on PSSB executing and delivering to LHR a release and discharge of LHR’s obligation to return the Deposit under the Management Services Agreement.

The Proposed Disposal includes the entire issued and paid-up share capital of Carcosa Sdn Bhd, a wholly-owned subsidiary of LHR, comprising 500,000 ordinary shares of RM1.00 each, and the operating assets at CSN.

LHR and PSSB have further agreed that the completion of the Proposed Disposal shall be seven (7) days from the date of the Notice.

LHR has on 31 March 2010 accepted the Notice.

This announcement is dated 31 March 2010.