MIDF APPOINTS NEW COO

KUALA LUMPUR, Wednesday, 1 November 2006 - “Malaysian Industrial Development Finance Berhad (“MIDF”) is pleased to announce the appointment of Encik Azizi Mustafa as Chief Operating Officer.

Encik Azizi brings with him extensive experience in change management throughout his previous employments. He was formerly the pioneer employee and Director of Human Resource and Administration with Kuwait Finance House (M) Berhad for its establishment as the first full-fledge foreign Islamic bank in Malaysia. Prior to this, he had served various organisations such as Malaysia National Insurance Berhad and Citibank Berhad.

Encik Azizi is an engineer by qualification with Bachelor of Science in Electrical Engineering from Seattle University, Washington, USA. He has had his engineering training through employments with Advanced Micro Devices, Penang and Komag USA in Sarawak.

With this appointment, Encik Azizi is to co-drive internal rationalisation initiatives which are being adopted by MIDF to further streamline its business operations.