(SINGAPORE, 2 August 2002) Sesdaq-listed OKP Holdings Limited ("The Company"), a leading road builder in Singapore, announced today that their wholly-owned subsidiary, Or Kim Peow Contractors (Pte) Ltd, has been awarded a S$13.1 million tender for the planned maintenance of roads in east sector of Singapore for a period of one year. The project will commence on 5 August 2002 and is expected to be completed by 4 August 2003.

As the company is currently has the contract for unplanned maintenance of roads in the west sector of Singapore, the award of this new tender would mean that the company's road maintenance business would now cover the whole of Singapore. The Company won the tender from a field of six other competitors as a result of its competitive pricing, track record and strong financial standing.

Mr Or Toh Wat, Group Managing Director said "We are able to give our clients value for their money because of our capabilities and optimal cost structure. We have a good project management system in place, a lean workforce and low overheads which allows us to provide competitive pricing for our clients while maintaining good margins for ourselves."

On 26 July 2002, Or Kim Peow Contractors (Pte) Ltd was also awarded the tender for the improvement to old roadside drains in Kembangan estate for a tender amount of S$5.5 million. The project commenced on 1 August 2002 and is expected to be completed by 31 July 2004.

Both projects are expected to contribute positively to the net tangible assets and earnings of the Company and its subsidiaries for the current financial year ending 31 December 2002.

About OKP Holdings
OKP Holdings, the leading road builder in Singapore, is listed on the SGX Sesdaq of the Singapore Exchange Securities Trading Limited. Its two principal business activities are road construction and road maintenance. The Group's turnover grew from S$36.3 million in 2000 to S$ 51.1 million in 2001 and net profit grew from S$0.9 million to S$3.9 million over the same period.

In the road maintenance business, planned contracts refer to road maintenance projects that have been identified and scheduled for maintenance. Unplanned contracts refer to the ongoing maintenance of roads on a needs basis, which are unscheduled.