The Board of Directors of OKP Holdings Limited ("the Company") wishes to announce that the tender for Contract No. P/193/02 - (A) Construction of Covered Pedestrian Overhead Bridge and Bus Bays at Woodlands Avenue 2 and (B) Turfing Works at Woodlands N2 C12 (Balance of Works) ("the Contract") by its wholly-owned subsidiary, Eng Lam Contractors Co (Pte) Ltd, has been accepted by the Housing & Development Board.

The amount of the tender is SGD487,000.00 and the commencement date for the Contract is 17 January 2003. The Construction of Covered Pedestrian Overhead Bridge and Bus Bays at Woodlands Avenue 2 is expected to be completed by 16 July 2003 and the Turfing Works at Woodlands N2 C12 is expected to be completed by 16 February 2003.

The Contract is not expected to have any material impact on the earnings per share or net tangible assets per share of the Company and its subsidiaries for the current financial year ending 31 December 2002.