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MAS notice to holders of redeemable convertable preference shares

Direct News Source

26-Jan-2010 MALAYSIAN AIRLINE SYSTEM BERHAD (“MAS” OR “COMPANY”)

NOTICE TO HOLDERS OF REDEEMABLE CONVERTIBLE PREFERENCE SHARES OF RM0.10 EACH IN MAS ("RCPS")

We refer to the announcements dated 22 December 2009, 8 January 2010, 11 January 2010 and 25 January 2010 in relation to the proposed renounceable rights issue of new ordinary shares of RM1.00 each in MAS ("Rights Shares") on the basis of one (1) Rights Share for every one (1) existing ordinary share of RM1.00 each held in MAS ("MAS Share") at an issue price of RM1.60 per Rights Share ("Rights Issue").

As at the date of this announcement, the aggregate principal amount of RCPS that remains outstanding is RM415,127,155 ("Outstanding RCPS"), which is convertible into 102,500,532 new MAS Shares based on the existing conversion price of RM4.05 per MAS Share.

On behalf of the Board of Directors of MAS, Maybank Investment Bank Berhad and CIMB Investment Bank Berhad wish to inform the holders of the Outstanding RCPS of the following:

(i) Entitlement date for the Rights Issue; and

(ii) Adjustment to be made to the conversion price of the Outstanding RCPS.

Kindly refer to the attachment for further details of the above.