SSTEEL - NOTICE OF RIGHTS ENTITLEMENT

LISTING'S CIRCULAR NO. L/Q : 17753 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 Rights commence of trading : [ 16 June 2003 ]

2) The Date of Despatch of the Prospectus and Provisional Allotment Letter of Offer :
[ 12 June 2003 ]

3) The last day and time for Acceptance, Renunciation and Payment :
[ 8 July 2003 @ 5:00pm ]

4) The Rights cease quotation : [ 26 June 2003 ]

The Stock Short Name, Stock Number and ISIN Code [ SSTEEL-LR, 5665LR and MYL5665LR003 ] respectively