EQUINE Capital Bhd’s shares leapt RM1.14, or 30 per cent, to close at RM5 yesterday after a research house said the property developer stands to benefit from a new RM25 billion development in Penang. In a report to investors, UOB Kay Hian analyst Foong Choong Chen said Equine, which owns a quarter of the 105ha Penang Turf Club, is expected to benefit from the Government’s plans to use the land to house the new Penang City Centre.

Company Name : EQUINE CAPITAL BERHAD
Stock Name : EQUINE
Date Announced : 27/06/2007

Type : Reply to query
Reply to Bursa Malaysia’s Query Letter - Reference ID : HY-070626-46010

Subject : EQUINE CAPITAL BERHAD (”ECB” OR “COMPANY”)

ARTICLE ENTITLED “EQUINE SHARES SURGE 30PC” IN NEW STRAITS TIMES ON TUESDAY, 26 JUNE 2007

Contents :

We refer to the letter from Bursa Malaysia Securities Berhad dated 26 June 2007 on the above article that appeared in New Straits Times, page 38, on Tuesday, 26 June 2007.

The Company wishes to advise that Abad Naluri Sdn Bhd, a 25%-owned associated company of Taman Equine (M) Sdn Bhd, which in turn is a wholly-owned subsidiary of ECB, is the property developer of the re-development of 259 acres Penang Turf Club land at Batu Gantung. However, the reported RM25 billion development and the expected land price of RM500 per square foot were projections of the analyst.

The Company wishes to further advise that the structural plan to re-zone the existing Penang Turf Club land from recreational to mixed-development was initiated by the State Government of Penang in November 2002 and as of todate, the structural plan has yet to be gazetted.

This announcement is dated 27 June 2007.