Labuan, Friday, 22 December 2006. IOI Capital (L) Berhad (IOIL) today listed its USD 370 million Unsecured Guaranteed Exchangeable Bonds (Exchangeable Bonds) due 2011 on Labuan International Financial Exchange (LFX). The Exchangeable Bonds is guaranteed by IOI and is exchangeable into ordinary shares of RM0.50 each. The Exchangeable bonds, which were oversubscribed by 6 times, was a result of strong demand from global investors.

IOI Capital (L) Berhad’s 5-year Unsecured Guaranteed Exchangeable Bonds Issue due 2011 is IOI’s third listing on LFX through its subsidiaries. The first instrument that was listed back in 2004 was the Guaranteed Exchangeable Bonds Due 2009 issued by IOI Investment (L) Berhad and subsequently the Guaranteed Notes due 2015 issued by IOI Ventures (L) Berhad which was listed early last year.

The net proceeds of the issue of the Exchangeable Bonds will be on-loan by IOIL to IOI. IOIL is a wholly-owned subsidiary of IOI Corporation Berhad (IOI). Proceeds will be used to settle inter-company borrowings, repay bank borrowings, fund capital expenditure, investment opportunities and working capital,

“The encouraging demand for such exchangeable bonds signifies the international markets confidence towards instruments issued out of Labuan IOFC listed on LFX”, commented Dato’ Yusli Mohamed Yusoff, Chairman of LFX Board and CEO of Bursa Malaysia Berhad.

He further added that this transaction demonstrates LFX’s commitment to stimulate and encourage the development of new capital market instruments and to bring in new investors to the region.

The listing sponsor for the Exchangeable Bonds is AmInternational (L) Limited, and Citigroup is the sole bookrunner and manager for the Exchangeable Bonds issue.