Extension Of The Duration and Exercise Period Of Reliance Pacific Berhad's (RPB) Outstanding Warrants From 13 April 2000 Up To And Including 13 April 2005

General Announcement Reference No RP-020905-30414

Company Name	:	RELIANCE PACIFIC BERHAD
Stock Name	:	RPB
Date Announced	:	19/09/2002

Type	:	Announcement
Subject	:	EXTENSION OF THE DURATION AND EXERCISE PERIOD OF RELIANCE PACIFIC BERHAD'S (RPB) OUTSTANDING WARRANTS FROM 13 APRIL 2000 UP TO AND INCLUDING 13 APRIL 2005

Contents :

There have been some enquiries from shareholders and warrantholders who have called to the registered office in respect of the expiring period of the Company's outstanding warrants on 13 April 2003.

In view of this, the Company would like to clarify that a circular dated 6 September 1999 in respect of the above captioned ("the Circular") was approved by shareholders and warrantholders at the Extraordinary General Meeting and Warrantholders Meeting respectively on 28 September 1999.

Upon the approval of the Circular by shareholders and warrantholders , the Board of Directors has amended the Deed Poll constituting the Warrants such that the exercise period of the Warrants be extended from five (5) years to ten (10) years, thereby extending the expiry date of the Warrants from 13 April 2000 up to and including 13 April 2005.

The first extension which is for a period of three (3) years from 13 April 2000 up to and including 13 April 2003 ("First Extension") has been implemented. Following the First Extension, there is provision to allow for auto extension for up to another two (2) periods of one (1) year each to 13 April 2004 and 13 April 2005 ("Further Extensions"). The Further Extensions can be extended if the weighted average of RPB share price quoted on the KLSE are less than 25% premium over the exercise price of the Warrants ("out-of-money") for any of the thirty (30) consecutive market days preceding 13 January 2003 and 13 January 2004 respectively.

The current exercise price of the Warrants is RM2.55 per share.