The Board of Directors of OKP Holdings Limited ("the Company") wishes to announce that the tender for Contract No. JTC 105/2002 - Construction of all Outstanding Works for Roads, Drains, Sewers and Soil Improvement at North of Pulau Merlimau, Jurong Island ("the Contract") by its wholly-owned subsidiary, Eng Lam Contractors Co (Pte) Ltd, has been accepted by the Jurong Town Corporation.

The amount of the tender is SGD1,287,000 and the commencement date for the Contract is 10 April 2003. The Contract is expected to be completed by 9 September 2003.

The Contract is expected to contribute positively to, but has no material impact on, the earnings per share or net tangible assets per share of the Company and its subsidiaries for the current year ending 31 December 2003.