Press Releases MARC’s RATING ANNOUCEMENT ON WCT LAND BERHAD’S CONVERTIBLE REDEEMABLE DEBT SECURITIES (CRDS-A)

Thursday, Jan 20, 2005

MARC has been duly informed by WCT Land Berhad (WCTL) and the trustees of WCTL’s CRDS-A (rated A-flat by MARC) of the postponement of interest payment payable to the CRDS holders from 2 February 2005 to 7 February 2005 due to procedural delays. At the time of this announcement, the interest and late interest charges payable to the CRDS holders have been remitted into the relevant designated accounts for disbursement. As the postponement of the interest payment is not deemed as a credit impairment event by MARC, there is no material change to the A rating assigned to WCTL’s CRDS-A.