MALAYSIAN INDUSTRIAL DEVELOPMENT BERHAD RECEIVES NOTICE OF CONDITIONAL VOLUNTARY TAKE-OVER OFFER FROM PERMODALAN NASIONAL BERHAD

Kuala Lumpur, 13 August 2007 – The Board of Directors of Malaysian Industrial Development Berhad (“MIDF”) wishes to announce that it has on Monday, 13 August 2007, received a Notice of Conditional Voluntary Take-Over Offer (“Offer”) from AmInvestment Bank Berhad (formerly known as AmMerchant Bank Berhad) (a member of the AmInvestment Bank Group), on behalf of Permodalan Nasional Berhad (“PNB”), to acquire

(i) All the remaining 776,958,474 ordinary shares of RM1.00 each in MIDF representing approximately 79.98% of the issued and paid-up share capital of MIDF that PNB does not already own as at 10 August 2007; and

(ii) All the new shares that may be allotted and issued up to the close of the Offer pursuant to the exercise of outstanding options granted to the employees of MIDF under its Employees’ Share Option Scheme (“ESOS”) for a cash consideration of RM1.90 per share.

The Board of Directors is not seeking an alternative person to make a takeover offer for MIDF shares.

In accordance with the Malaysian Code on Takeovers and Mergers 1998, the Board of Directors will appoint an independent advisor to advise the directors and shareholders of MIDF in relation to the Offer.

The said Notice of Conditional Voluntary Take-Over Offer is enclosed herein.