PROPOSED EXTENSION OF THE RHB WARRANTS 1999/2002 AND RHB WARRANTS 2001/2002

Kuala Lumpur, 25 February, 2002-Rashid Hussain Berhad ("RHB ") said today that its proposed extension of the RHB Warrants 1999/2002 and RHB Warrants 2001/2002 for a period of approximately seven years and five years respectively has been approved by the Securities Commission on 14 February 2002 and 20 February 2002 respectively.

In a statement, RHB said the proposed extensions, however, are pending approval from shareholders and warrant holders. Circulars to shareholders and warrant holders on the proposed extension will be issued tomorrow, 26 February 2002. An extraordinary general meeting and a meeting of warrant holders will be held on 20 March 2002 to approve the proposed extensions.

The RHB Warrants 1999/2002 and RHB Warrants 2001/2002 were due to expire on 22 March 2002. With the proposed extensions, warrant holders will have the flexibility to exercise their warrants at a later date as and when RHB's share price improves while shareholders will benefit from the enhancement in the value of the Company upon the exercise of the warrants.

For more information, warrant holders can contact RHB at Tel 03-9280 2534 or 92802125.

Issued by RHB Public Affairs & Communications. For more details, please contact Celina May Ong at Tel 03-9802534 content