SSTEEL - NOTICE OF RIGHTS ENTITLEMENT

LISTING'S CIRCULAR NO. L/Q : 17443 OF 2003

Renounceable rights issue of up to RM141,176,500 nominal amount of 5.5% 5-year irredeemable convertible unsecured loan stocks (ICULS) at 100% of the nominal amount payable in full upon acceptance on the basis of RM1.00 nominal amount of ICULS for every 2 existing ordinary shares of RM1.00 each held (Rights Issue of ICULS).

Kindly be advised of the following :

1) The above Company's securities will be traded and quoted [ "Ex - Rights Issue" ]
as from : [ 3 June 2003 ]

2) The last date of lodgement : [ 5 June 2003 ]

3) Retention Money : Where securities are not delivered in time for registration by the seller, then the brokers concerned :-

a) Selling Broker to deduct [ 1/3 ] , of the Selling Price against the Selling Client.

b) Buying Broker to deduct [ 10% ] of the Purchase Price against the Buying Client.

c) Between Broker and Broker, the deduction of [ 1/3 ] of the Transacted Price is applicable.