Labuan, 12 March 2003 – Rashid Hussain Berhad (RHB) commenced the secondary listing of USD265.205 million Secured Bonds on the Labuan International Financial Exchange (LFX) today, Wednesday, 12 March 2003.

The secondary listing of the RHB bonds, due in 2007, brings the total number of listings on LFX to eleven. The primary listing of the bonds on the Luxembourg Stock Exchange was on 21 February 2003. RHB is listed on the Main Board of the Kuala Lumpur Stock Exchange.

The Chairman of the Board of LFX, Dato’ Mohd Azlan Hashim said that the listing of the RHB Bonds on LFX is significant for both RHB and LFX.

“This secondary listing underscores the support by RHB for LFX in expanding the profiling of the instrument not only in Europe, but across Asia. Indeed, in reinforcing dissemination of information on companies and capital market instruments issued, LFX provides an important avenue to reach market participants internationally.

“With RHB coming on board, we certainly see this as a further indication of the growing support of more companies, both domestic and international, to take advantage of the capabilities offered by LFX and the Labuan International Offshore Financial Centre,” he said.

With this listing, the range of products on LFX now comprise three Syariah-compliant certificates (Sukuk), five open-ended funds, two conventional debt securities and one conventional floating rate secured notes.

The listing sponsor for the secondary listing of the Bonds is AmInternational (L) Ltd (AMIL). They are responsible for the listing and ensuring that RHB complies with the post-listing obligations as prescribed by LFX’s rules and regulations. JPMorgan Chase Bank, London are the trustees for the Bonds.

The Bonds listed today were issued pursuant to the restructuring of RHB’s existing USD200 million 1.5% exchangeable bonds due in 2007, and forms part of the restructuring of RHB’s borrowings undertaken in conjunction with the RHB group restructuring scheme.
Interest on the two-tiered Bonds is payable at an annual rate equal to 2% for the period commencing 31 December 2002 until 30 June 2005. Thereafter, the Bonds will bear interest at a rate of 4% per annum.

As a web-based exchange at www.lfx.com.my, LFX offers market participants and investors around the world, fast and efficient access to its services. Wholly owned by the Kuala Lumpur Stock Exchange, LFX is an international offshore financial exchange that facilitates the listing of a multitude of multi-currency instruments and allows the issuer the flexibility to structure the instruments that best suit their funding needs.