Labuan, Thursday, 28 October 2004 -The secondary listing of Telekom Malaysia Berhad (Telekom Malaysia) Group’s USD500 million Notes on Labuan International Financial Exchange (LFX) today makes it the 11th new listing on the Exchange this year.

The Notes, which were issued by TM Global Incorporated, a Labuan-based wholly owned subsidiary of Telekom Malaysia are due in 2014 and are fully guaranteed by Telekom Malaysia.

With this listing, there are now 23 financial instruments listed on LFX, comprising five (5) Shariah compliant certificates (Sukuk), five (5) investment funds and 13 conventional debt instruments and exchangable bonds, with a total market capitalisation of USD9.58 billion.

The Notes, which carry a coupon rate of 5.25%, have been rated A3 by Moody’s and A - by Standard and Poor’s. The Notes, had their primary listing on the Luxembourg Stock Exchange on 22 September 2004.

The proceeds from this exercise will be used by Telekom Malaysia Group for refinancing of existing debt and for general working capital requirements.

LFX Board Chairman, Encik Yusli Mohamed Yusoff, who is the Chief Executive Officer of Bursa Malaysia, welcomed the move by Telekom Malaysia as a positive sign for the development of the capital market in the Labuan International offshore financial centre. He hoped that it will draw other corporations in Malaysia to follow suit and thus further enhance the visibility of LFX as the premier offshore exchange in the region.