MAS: renounceable rights issue on the basis of one new ordinary share of RM1 eact

We refer to the announcements dated 22 December 2009, 8 January 2010, 11 January 2010 and 25 January 2010 in relation to the above.

On behalf of the Board of Directors of MAS, Maybank Investment Bank Berhad ("Maybank IB") and CIMB Investment Bank Berhad ("CIMB") are pleased to announce that MAS has entered into an underwriting agreement with Maybank IB, CIMB and RHB Investment Bank Berhad ("RHB") on 26 January 2010, wherein the aforesaid banks have agreed to underwrite all of the Rights Shares to be issued pursuant to the Rights Issue, other than the Rights Shares representing (a) the entitlements of Khazanah Nasional Berhad ("Khazanah") and Penerbangan Malaysia Berhad ("PMB") under the Rights Issue as at 10 February 2010 and (b) the additional take-up of 32,718,040 Rights Shares by Khazanah, for which Khazanah and PMB have provided irrevocable undertakings to subscribe or procure subscription in full respectively. Please refer to the separate announcements made by MAS on 26 January 2010 for details of the entitlement date and other important relevant dates in relation to the Rights Issue.

Maybank IB and CIMB are the Joint Financial Advisers and Joint Underwriters, whilst RHB is a Joint Underwriter for the Rights Issue.