OSK-Rights Issues of:- (a) RM101,423,995 Nominal Amount Of 6% Irredeemable Convertible Unsecured Loan Stock 2000/2005 ("ICULS") At 100% Nominal Amount Of ICULS; And (b) RM101,423,995 Nominal Amount Of 3.5% Redeemable Unsecured Bonds 2000/2005 ("RUB") At 100% Nominal Amount Of RUB With 101,423,995 Free Detachable Warrants B On The Basis Of RM1.00 Nominal Amount Of ICULS And RM1.00 Nominal Amount Of RUB With One (1) Free Detachable Warrant B For Every Three (3) Existing Ordinary Shares Of RM1.00 Each Held In OSK Prior To The Bonus Issue ["Rights Issues"]

LISTING'S CIRCULAR NO. L/Q : 4638 OF 2000

Kindly be advised that the RM101,423,995 nominal amount of ICULS, RM101,423,995 nominal amount of RUB and 101,423,995 Warrants B issued pursuant to the Rights Issues will be admitted to the Official List of the Exchange and the listing and quotation of these securities on the Main Board under the "Loans" sector, will be granted with effect from 9.00 a.m., Friday, 17 March 2000 on a "Ready" basis pursuant to the Rules of the Exchange.

The Stock Short Name, ISIN Code and Stock Number of the ICULS are "OSK-C1", "MYL5053LBF33" and "5053M" respectively.

The Stock Short Name, ISIN Code and Stock Number of the RUB are "OSK-BU2", "MYL5053BBF35" and "5053C" respectively.

The Stock Short Name, ISIN Code and Stock Number of the Warrants B are "OSK-W2", "MYL5053WBF30" and "5053X" respectively.

The Conversion Price for the ICULS is RM2.80 for one (1) new ordinary share in OSK.

The Conversion Price shall be satisfied by tendering any combination of the ICULS for cancellation by OSK (subject to RM1.00 nominal amount of the ICULS and multiples thereof) and cash for one (1) new ordinary share in OSK.

The Conversion Period is at any time from the date of issue of the ICULS until 1 March 2005, which is the fifth (5th) anniversary of the date of issue of the ICULS.

The Maturity Date( which is on the fifth (5th) anniversary of the date of issue of the RUB) of the RUB is 1 March 2005.