General Announcement
Reference No O&-040614-62351

Submitting Merchant Bank	:	K & N KENANGA BHD
Company Name	:	ASIAEP BHD (MESDAQ Market)
Stock Name	:	ASIAEP
Date Announced	:	14/06/2004


Type	:	Announcement
Subject	:	ASIAEP BERHAD ("asiaEP" OR "COMPANY") PROPOSED ESTABLISHMENT OF AN EMPLOYEES' SHARE OPTION SCHEME ("PROPOSED ESOS")

Contents :

Further to the announcement dated 11 May 2004, K&N Kenanga Berhad ("Kenanga"), on behalf of the Board of Directors of asiaEP, wishes to announce that Bursa Malaysia Securities Berhad (formerly known as Malaysia Securities Exchange Berhad) ("BMSB") had vide its letter dated 10 June 2004 approved the Proposed ESOS and the proposed listing and quotation of the ESOS shares.

asiaEP has been given six (6) months from the date of approval to complete the Proposed ESOS.

Further details of the Proposed ESOS will be set out in a circular to shareholders to be issued.

This announcement is dated 14 June 2004.