Kuala Lumpur, 21st February 2008: Malaysia’s leading port at Port Klang, Westports Malaysia Sdn Bhd has appointed OSK Investment Bank Berhad (OSK) as the Principal Adviser and Lead Arranger to arrange and manage on its behalf the issuance of up to RM800.0 million Sukuk Musyarakah Medium Term Notes (Sukuk Musyarakah MTN) Programme.

The Sukuk Musyarakah MTN Programme applies the underlying Syariah Principles of “Musyarakah” which basically refers to a partnership arrangement between two parties or more to finance a business venture whereby all parties contribute capital either in the form of cash or in kind for the purpose of financing a business venture. Any profit derived from the venture will be distributed based on a pre-agreed profit sharing ratio but a loss will be shared on the basis of equity participation.

The purpose of the Sukuk Musyarakah MTN includes amongst others the refinancing of Westports’ existing bank borrowings, the financing of the construction of new container terminals; and acquisition of machineries and equipment.

The tenure of the Sukuk Musyarakah MTN Programme is fifteen (15) years from the issuance date. However, the tenure of each Sukuk Musyarakah MTN issuance shall be more than one (1) year and up to ten (10) years.

The Sukuk Musyarakah MTN Programme has been assigned a final rating of AA+IS from Malaysian Rating Corporation Berhad, which indicates that Westports has a very strong ability to repay principal and pay interest on a timely basis.

The security arrangement for the Sukuk Musyarakah MTN Programme includes a first legal charge over the designated accounts.

The issuance of Sukuk will be either on book build, tender or bought deal basis. However, the first issuance, which is expected to be in mid March 2008, will be based on book build basis.

For further enquiries, please contact En. Mohd Hatta, Corporate Finance, Westports Malaysia Sdn Bhd at 03-62036999 or hatta.mhd@westports.com.my