Hong Leong Financial Group Berhad writes to inform that Hytex Integrated Berhad (“Hytex”) has obtained a judgment in default of appearance against its wholly-owned subsidiary, Hong Leong Assurance Berhad (“HLA”) in respect of a fire insurance claim amounting to about RM30 million.

HLA has made urgent applications to set aside the judgment in default and a stay of execution, and hearing dates have been fixed for both applications.

HLA will vigorously defend the case. We reserve the right to take whatever legal action and recourse against all parties involved for any abuse of the process of the court, malicious prosecution and defamation.

HLA is a reputable company who has long been providing security and peace of mind to thousands of customers. We have had decades of uninterrupted operations in Malaysia hallmarked by the professional management of all our concerns. This, and all matters concerning our business, is addressed in their appropriate forum. We will let the legal process takes its due course.

It is business as usual for HLA. HLA office has not been sealed, contrary to Hytex’s announcement and reports in the media.

This announcement is dated 26 December 2008.

Hong Leong Financial Group Berhad writes to inform that Hytex Integrated Berhad (“Hytex”) has obtained a judgment in default of appearance against its wholly-owned subsidiary, Hong Leong Assurance Berhad (“HLA”) in respect of a fire insurance claim amounting to about RM30 million.

HLA has made urgent applications to set aside the judgment in default and a stay of execution, and hearing dates have been fixed for both applications.

HLA will vigorously defend the case. We reserve the right to take whatever legal action and recourse against all parties involved for any abuse of the process of the court, malicious prosecution and defamation.

HLA is a reputable company who has long been providing security and peace of mind to thousands of customers. We have had decades of uninterrupted operations in Malaysia hallmarked by the professional management of all our concerns. This, and all matters concerning our business, is addressed in their appropriate forum. We will let the legal process takes its due course.

It is business as usual for HLA. HLA office has not been sealed, contrary to Hytex’s announcement and reports in the media.

This announcement is dated 26 December 2008.