| ACQUISITION OF SUBSIDIARIES |
| The Board of Directors of Parkson Holdings Berhad ("Company") wishes to |
| announce the following ("Acquisition of Subsidiaries"): |
|
| i) The Company had on 11 June 2008, subscribed for 1 ordinary share of US$1.00 |
| each at an issue price of US$1.00 in Prime Yield Holdings Limited (?Prime |
| Yield?) which is the legal and beneficial owner of the entire equity interest |
| in Dyna Puncak Sdn Bhd ("Dyna Puncak"), the legal and beneficial owner of the |
| entire equity interest in Idaman Erajuta Sdn Bhd ("Idaman Erajuta"); and |
|
| ii) Parkson Corporation Sdn Bhd, a wholly-owned subsidiary of the Company had |
| on 11 June 2008, acquired 2 ordinary shares of RM1.00 each in Kiara Innovasi |
| Sdn Bhd ("Kiara Innovasi"), for a total consideration of RM2.00. |
|
| Prime Yield, Dyna Puncak, Idaman Erajuta and Kiara Innovasi (collectively |
| referred to as the "New Companies") have not commenced any operation of |
| business and information on the said New Companies is set out in Table 1 below. |
|
| The Board wishes to announce that consequent thereto, the New Companies became |
| wholly-owned subsidiaries of the Company. |
|
| The Acquisition of Subsidiaries does not have any material impact on the |
| earnings of the Group for the financial year ending 30 June 2008 and the net |
| assets of the Group based on the audited consolidated balance sheet as at 30 |
| June 2007. |
| You are advised to read the entire contents of the announcement or attachment. |
| To read the entire contents of the announcement or attachment, please access |
| the Bursa website at http://www.bursamalaysia.com . |