Further to our announcement made on 1 December 2008, Talam wishes to inform that the status of the various credit facilities in default by the Company and its subsidiaries to the financial institutions as at 30 November 2008 are detailed in Table A attached which has been categorized into 6 groups.

The Company had earlier announced on 2 May 2008 that the Proposed Revised Regularisation Plan which was submitted to the Securities Commission (“SC”) on 25 October 2007 has been approved by SC vide SC’s letter dated 29 April 2008 (which was received on 30 April 2008) subject to terms and conditions imposed by the SC. Please refer to the detailed announcement made by RHB Investment Bank Berhad on 2 May 2008.

At the Extraordinary General Meeting of the Company held on 15 September 2008, the shareholders of the Company have approved the Proposed Revised Regularisation Plan. The Company has on 6 October 2008 submitted the petition for the proposed reduction of the share capital and share premium account of the Company to the High Court of Malaya (“court”) and was granted order by the court on 5 December 2008.

The Company has on 11 December 2008 submitted the application to Bursa Malaysia Securities Berhad (“Bursa Securities”) for the following:-

(a) the admission of 1,287,010,000 Redeemable Convertible Preference Shares of RM0.20 each (“RCPS”) to the Official List of Bursa Securities and the listing of and quotation for the RCPS on the Main Board of Bursa Securities;