Boustead Holdings Berhad ("Boustead") Proposed Acquisition Of Shares In Boustead Heavy Industries Corporation Berhad (Formerly Known As Psc Industries Berhad) ("Bhic") In Connection With The Restructuring Scheme Of Bhic ("Proposed Acquisition")

(Unless otherwise indicated, specified or defined in this Announcement, the definitions contained in the Company's announcement dated 21 December 2006 and 2 April 2007 in relation to the above shall apply throughout this Announcement)

We refer to the announcements dated 21 December 2006 and 2 April 2007 in relation to the Proposed Acquisition.

On behalf of the Board of Directors of Boustead, Affin Investment Bank Berhad is pleased to announce that the Proposed Acquisition has been completed with the relisting of and requotation for the BHIC shares on 13 August 2007. BHIC is now a subsidiary of Boustead.