PRESS RELEASE FOR ILLEGAL INVESTMENT SITES

PRESS RELEASE
Kuala Lumpur , 12 June 2007

Bank Negara Malaysia and the Securities Commission investigate AB Fund for illegal internet investment activities
Bank Negara Malaysia in a joint operation with the Securities Commission and Polis Diraja Malaysia yesterday, 11 June 2007, conducted a raid on AB Fund for suspected illegal deposit taking and illegal investment activities via its website www.abfund.us and www.abfundtrader.biz .

Bank Negara Malaysia is investigating AB Fund for suspected illegal deposit taking and money laundering activities, both of which are offences under subsection 25(1) Banking And Financial Institutions Act 1989 (BAFIA) and subsection 4 (1) of Anti-Money Laundering and Anti-Terrorism Financing Act 2001 (AMLA) respectively.

AB Fund is also not licensed by the Securities Commission to provide investment advice that is related to securities or futures activities and also not licensed to carry out fund management activities in Malaysia, as stipulated under Sections 14 and 15A of the Securities Industry Act 1983 (SIA) and Section 16A of the Futures Industry Act 1993 (FIA).

Upon conviction, an illegal deposit-taking operator can be punished with imprisonment of up to 10 years or fine up to RM10 million, or both. In the case of a continuing offence, the operator shall be liable to be punished with a daily fine up to RM100,000 for each day the offence continues.

A person convicted for a money laundering offence shall be liable to a fine up to RM5 million or to imprisonment for a term up to five years, or both.

Any person convicted of providing investment advice related to securities or futures activities, or carrying out fund management activities without a licence face a fine of up to RM1million or imprisonment not exceeding 10 years, or both.

Bank Negara Malaysia and the Securities Commission will take all measures against illegal investment activities including taking enforcement action against operators and agents of illegal investment websites.

To safeguard their interests, members of the public are cautioned to only place deposits and invest with parties licensed by the authorities so that they are accorded the protection under the country's banking and securities laws. A list of all licensed parties is available on the Securities Commission and Bank Negara Malaysia 's websites at www.sc.com.my and www.bnm.gov.my respectively.

Bank Negara Malaysia and the Securities Commission strongly urge the public to be vigilant when investing with local or foreign companies offering investment opportunities. Members of the public are advised not to fall prey to unscrupulous parties who promise investors with seemingly high-return investment activities.

Members of the public are advised to alert the authorities immediately of any suspicious websites, e-mails or information on the Internet relating to deposit taking activities and investment advice and services. They can contact Bank Negara Malaysia and the Securities Commission at:

Bank Negara Malaysia