The Board of Directors of OKP Holdings Limited ("the Company") wishes to announce that the tender for Contract PE100 - Widening of Pan-Island Expressway from Kranji Expressway to Jalan Ahmad Ibrahim ("the Contract") by its wholly-owned subsidiary, Or Kim Peow Contractors (Private) Limited, has been accepted by the Land Transport Authority.

The amount of the tender is SGD22,227,000 and the commencement date for the Contract is 25 March 2004. The Contract is expected to be completed by 24 March 2006.

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 subsidiary companies for the current financial year ending 31 December 2004.

None of the Directors has any interest, direct or indirect, in the Contract. As far as the Directors are aware, none of the controlling shareholders of the Company has any interest, direct or indirect, in the Contract.