Investment In World.net Services Pty Limited ("WNS")

General Announcement Reference No RP-000331-28CB8

Company Name	:	RELIANCE PACIFIC BERHAD
Stock Name	:	RPB
Date Announced	:	28/04/2000

Type	:	Announcement
Subject	:	Investment in World.Net Services Pty Limited ("WNS")

Contents :

With reference to the abovematter, we are pleased to inform the following :-

Introduction

Xplonet Investments Limited, a wholly-owned subsidiary of RPB has invested 23% of equity in WNS for a total consideration of AUD3,584,000.

WNS is a company incorporated in Australia. Its principal business is systems integration, multi-media and information technology consulting company, providing e-commerce business applications and web-based solutions to the global market.

Effects on earnings per share and net tangible assets per share

The aforesaid transaction has no material effects on RPB's earnings per share and net tangible assets per share for the financial year ending 31st March 2001.


Directors and substantial shareholders interests

Pursuant to Section 131 of the Company's Act 1965, Dato' Gan Eng Kwong has interest in the above transaction by virtue of his common directorship and/or shareholdings in RPB and WNS.

Further, by virtue of Section 122A of the Company's Act 1965, Datin Irene Tan has deemed interest in the said transaction.


Government and relevant authorities approval

We have obtained Bank Negara Malaysia approval for the above transaction.


Rationale

In line with RPB's e-commerce earlier information to KLSE, the Xplonet Investments Limited is RPB's web incubator company.

It is the vehicle to broaden RPB's expansion into the e-commerce business.

Should you require any further clarification, please contact the undersigned.

Thank you.