Subscription Of Shares In Admiral Hill Hotel Sdn Bhd

General Announcement Reference No RP-020404-58672

Company Name	:	RELIANCE PACIFIC BERHAD
Stock Name	:	RPB
Date Announced	:	05/04/2002

Type	:	Announcement
Subject	:	Subscription of shares in Admiral Hill Hotel Sdn Bhd

Contents :

Further to the shareholders' approval obtained at RPB's Extraordinary General Meeting held on 4th November 1994 in respect of the joint venture agreement between RPB Development Sdn Bhd ("RPBD") and Keretapi Tanah Melayu Berhad ("KTMB") signed on 18th August 1994 ("the Joint Venture Agreement"), we wish to update the following :

1.0 By the letter dated 6 March 2002 from Ketua Pengarah Tanah dan Galian Persekutuan, the 10.9 acre piece of land which is located at 5th mile (Lot 925), Jalan Pantai, Port Dickson has been earmarked for alienation to the joint venture company, Admiral Hill Hotel Sdn Bhd ("AHH").

2.0 In view of the above and pursuant to the Joint Venture Agreement, RPBD, a wholly-owned subsidiary company of RPB has now subscribed for eight (8) ordinary shares of RM1.00 each in AHH in accordance with the Joint Venture Agreement.

3.0 Upon subscription of the above 8 ordinary shares, AHH has an issued and paid up capital of RM 10.00 of which 80% is held by RPBD and 20% by KTMB. AHH authorised capital is RM100,000.00.