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Further to our announcement on 9 July 1999, todate the Group has completed assessment, testing and implementation of all systems supporting the businesses. To the best of the Group's knowledge and belief, all primary financial and business systems are now operating in a Y2K ready environment. Equipment vendors of the power and cement plants have confirmed the Y2K readiness of such equipment. However, there can be no assurance that unforseen issues will be encountered and the full impact on the Group of any failure of third parties systems and products cannot be ascertained with any finality. Contingency operating procedures and plans have been developed and tested to ensure that there is minimal impact should there be unforseen Y2K breakdowns. Minimal costs was incurred to address the Y2K issues as costs were incurred by the equipment vendors.
Yours faithfully,
For and on behalf of YTL Corporation Berhad
HO SAY KENG
Company Secretary
Dated: 7 October 1999
c.c. Securities Commission
Attention: Issues and Securities Department
Fax No: 03 651 5213