APPOINTMENT OF RASHID ISMAIL AS CHIEF EXECUTIVE OFFICER OF MIDF PROPERTY

KUALA LUMPUR Friday, 3 August 2007 – Malaysian Industrial Development Finance Berhad (“MIDF”) is pleased to announce the appointment of ENCIK RASHID ISMAIL as the new Chief Executive Officer of MIDF Property Berhad (formerly known as Malaysian Industrial Estates Berhad).

Prior to these appointments, Rashid was the Chief Executive Officer and Executive Director (Operations) of MIDF Sisma Securities Sdn. Bhd., a subsidiary of MIDF, from 1998 to 2005 and later as MIDF Group’s Head of Corporate Development Division from 1 January 2006.

Rashid obtained his Diploma in Accountancy from MARA Institute of Technology and graduated with a Bachelor of Business (Accounting) from Edith Cowan University, Perth, Australia in 1984. He is also a CPA (CPA Australia) and a Chartered Accountant (Member of MIA).

He began his career with United Malayan Banking Corporation Berhad in 1982 as Head of Money Market Processing, Treasury Department. In 1988, he headed the Computer Section under the same department. He subsequently joined Seagroatt & Campbell Sdn. Bhd. (now known as KAF-Seagroatt & Campbell Berhad) in 1990 whereby his last position was as General Manager, Operations. He joined PB Securities Sdn. Bhd. as its General Manager/ Company Secretary in 1994.

In 1997, Rashid was seconded to Malaysian Exchange of Securities Dealing & Automated Quotation Bhd. (MESDAQ). He assisted with the setting up of the Exchange and supervised areas of Operations, Information Technology and Market Surveillance.

With his vast experience and expertise in areas of Capital Markets throughout his 23 years career, MIDF Group is confident that Rashid will contribute to the growth of the Company.

About MIDF

MIDF is now a diversified group with substantial investments in the financial services industry and the industrial property sector. Following its merger with Amanah Capital Partners Berhad in 2003, the acquisition of Utama Merchant Bank Berhad (UMBB) in 2004, and the emergence of MIDF Amanah Investment Bank Berhad, MIDF Group has evolved into a stronger and bigger entity, offering a competitive and diversified range of financial services to include Investment Banking, Asset Management, Development Finance, and Industrial Property.

MIDF is listed on the Main Board of Bursa Malaysia Securities Berhad and is a member of Permodalan Nasional Berhad Group of Companies with total assets of over RM11.6 billion and shareholders’ funds of over RM2.0 billion as at 31 December 2006.