The following is the announcement by Malaysian Pacific Industries Berhad made to KLSE regarding the

PROPOSED EXTENSION OF THE DURATION OF THE EXECUTIVE SHARE
OPTION SCHEME ("ESOS") FOR AN ADDITIONAL PERIOD OF 5 YEARS; AND

PROPOSED ADOPTION OF THE AMENDED AND RESTATED BYE-LAWS OF THE ESOS

(COLLECTIVELY REFERRED TO AS "PROPOSALS")

On behalf of the Board of Directors of MPI, Commerce International Merchant Bankers Berhad is pleased to announce that the Proposals have been approved by the shareholders of MPI at the Extraordinary General Meeting of the Company held on 12 November 2002.

The Proposals have also been approved by the ESOS option holders.

This announcement is dated 12 November 2002.