RESIGNATION AND APPOINTMENT OF THE JOINT CHIEF EXECUTIVE OF THE COMPANY

We wish to inform that Tan Sri Lim Goh Tong ("Tan Sri Lim") has resigned as the Joint Chief Executive of the Company with effect from 12 April 1999. However, he remains as a member of the Board of Directors.

Dato' Lim Kok Thay has been appointed as the new Joint Chief Executive in place of Tan Sri Lim.

For and on behalf of the Board of Directors
TAN SRI MOHD AMIN BIN OSMAN
Chairman
Asiatic Development Berhad