The Board of Directors of OKP Holdings Limited ("the Company") wishes to announce that its wholly-owned subsidiary, Or Kim Peow Contractors (Private) Limited, had been awarded a contract for the Proposed Erection of 9 Pairs of 3 Storey Semi-detached Dwelling Houses Including Substation, MDF and CDR Room on Lots 2011, 2012, 3119 and 3120SL PT MK13 at Woodlands Road ("the Contract") by Messrs Wan Fu Investments Pte Ltd.

The amount of the tender is SGD9,900,000 and the commencement date for the Contact is 1 April 2006. The Contract is expected to be completed on 31 March 2008.

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 2006.

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.