09:01     TGB(SPV) B1005<02518> - Announcement                                

    The Stock Exchange of Hong Kong Limited takes no responsibility for the   
    contents of this announcement, makes no representation as to its          
    accuracy or completeness and expressly disclaims any liability            
    whatsoever for any loss howsoever arising from or in reliance upon the    
    whole or any part of the contents of this announcement.                   
                                                                              
    This announcement is for information purposes only and does not           
    constitute an invitation or offer to acquire, purchase or subscribe for   
    securities.                                                               
                                                                              
    TGB (SPV) Ltd                                                             
    (incorporated in the Federal Territory of Labuan, Malaysia with limited   
    liability                                                                 
    under the Offshore Companies Act, 1990)                                   
    Exercise of option in connection with the issue of U.S.$80,000,000 1.0%   
    Guaranteed Convertible Bonds due 2010 (the "Bonds")                       
    Issue of a further U.S.$15,000,000 pursuant to an option granted to the   
    Lead Manager                                                              
    (the "Optional Bonds")                                                    
    unconditionally and irrevocably guaranteed by                             
    Transmile Group Berhad (the "Guarantor")                                  
    (incorporated in Malaysia with limited liability                          
    under the Companies Act, 1965)                                            
    Convertible into shares of the Guarantor                                  
                                                                              
    Reference is made to the announcement of TGB (SPV) Ltd (the "Issuer")     
    dated 11 May 2005 in relation to the issue by the Issuer of               
    U.S.$80,000,000 in aggregate principal amount of the Bonds (the           
    "Announcement"). Capitalised terms used herein shall have the same        
    meaning as ascribed thereto in the Announcement.                          
                                                                              
    Further to the Announcement, the directors of the Issuer announce that    
    on 30 May 2005 The Hongkong and Shanghai Banking Corporation Limited      
    (the "Lead Manager") irrevocably exercised the option pursuant to the     
    subscription agreement dated 4 May 2005 between the Issuer, the           
    Guarantor and the Lead Manager requiring the Issuer to issue a further    
    U.S.$15,000,000 in aggregate principal amount of the Optional Bonds. The  
    aggregate principal amount of the Bonds and the Optional Bonds will be    
    U.S.$95,000,000 when the Optional Bonds are issued on the option closing  
    date, which is expected to be 2 June 2005. The Optional Bonds will be     
    issued on the same terms as, and will rank pari passu with, the Bonds.    
                                                                              
    Hong Kong, 31 May 2005