General Announcement
Reference No O&-060615-53910

Submitting Merchant Bank	:	K & N KENANGA BHD
Company Name	:	ASIAEP BHD (MESDAQ Market)
Stock Name	:	ASIAEP
Date Announced	:	15/06/2006


Type	:	Announcement
Subject	:	ASIAEP BHD ("ASIAEP" OR "COMPANY") RENOUNCEABLE RIGHTS ISSUE OF UP TO 82,777,778 NEW WARRANTS IN ASIAEP ("WARRANTS") AT AN ISSUE PRICE OF RM0.01 PER WARRANT, PAYABLE IN FULL UPON ACCEPTANCE, ON THE BASIS OF ONE (1) NEW WARRANT FOR EVERY THREE (3) EXISTING ORDINARY SHARES OF RM0.10 EACH HELD IN ASIAEP AT 5.00P.M ON 9 MAY 2006 ("RIGHTS ISSUE")

Contents :

On behalf of ASIAEP, K&N Kenanga Bhd is pleased to announce that based on the subscription received at the closing of the Rights Issue at 5.00 p.m on 12 June 2006 ("Closing Date"), the Rights Issue has been oversubscribed as detailed in the table below.

The allotment of Warrants to successful applicants will be carried out within 15 market days after the Closing Date.

This announcement is dated 15 June 2006.

	No. of Rights Shares with Rights Warrants	%
Acceptances	63,460,048	94.91
Excess applications	200,551,996	299.95
Total acceptances and excess applications	264,012,044	394.86
Total available for acceptance	66,861,390	100.00
Oversubscription	197,150,654	294.86