General Announcement Reference No O&-040209-21007

Submitting Merchant Bank	:	K & N KENANGA BHD
Company Name	:	ASIAEP BHD (MESDAQ Market)
Stock Name	:	ASIAEP
Date Announced	:	09/02/2004

Type	:	Announcement
Subject	:	ASIAEP BERHAD ("ASIA EP" OR "COMPANY") MEMORANDUM OF COOPERATION

Contents :

On behalf of the Company, K&N Kenanga is pleased to announce that the Company has on 9 February 2004, executed a Memorandum of Cooperation ("MOC") with Beijing Netthinker Co. Ltd. ("BNC"), a company incorporated in the People's Republic of China, to mutually cooperate in respect of the project called "China Occupational Skills Training- Multimedia and Virtual Course Materials" ("Project"). BNC has signed an agreement ("Agreement") with China Occupational Training Techniques Advisory Centre (National Labour and Social Security Vocational and Technical Endorsement Centre) of the People's Republic of China to complete the Project within a specified period. According to the MOC, the Project is in line with the Chinese Government's strategic plans for the implementation of training for Chinese citizens, which include the training of occupational skills as well as raising the general level of the workers' occupational skills and utilizing superior and newer techniques to improve the quality and effectiveness in the training of occupational skills.

Pursuant to the MOC, which is non-binding:-

(a) ASIAEP and BNC agree to cooperate to complete the Project within the period specified in the Agreement;

(b) the details of the cooperation will be specified in a cooperation agreement to be finalized by the parties; and

(c) ASIAEP and BNC agree to further discuss the details of the cooperation within 30 days of the signing of the MOC for the purpose of finalizing the cooperation agreement in respect of the Project.

This announcement is dated 9 February 2004.