NAJIB IS NEW MIDF GROUP MD

KUALA LUMPUR, Saturday, 8 July 2006 - Malaysian Industrial Development Finance Berhad (“MIDF”) is pleased to announce the appointment of ENCIK MOHD NAJIB HJ. ABDULLAH as GROUP MANAGING DIRECTOR effective 8 July 2006.

Encik Najib was formerly the Chief Executive Officer and Executive Director of Malaysia National Insurance Berhad (“MNI”). Prior to joining MNI, Encik Najib was with Citibank and Citigroup for 17 years where he held several senior management positions including Country Financial Controller and Head, Malaysian Business Group. He was also with another multinational company, serving both in its international head office in California and sales office in Kuala Lumpur.

Encik Najib graduated with distinction for his Bachelor of Science majoring in Mathematics and Computer Science. He also holds a Master’s degree in Business Administration.