NEW CONTRACT AWARDED

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The Board of Directors of Nova MSC Berhad is pleased to announce that the Company’s wholly-owned subsidiary novaCITYNETS Pte Ltd (“NCN”), has been awarded a multi-million contract by the Building and Construction Authority of Singapore (“BCA”).
 
Under the contract, NCN will provide professional services to BCA to manage, operate, support, deliver and enhance the CORENET Electronic Submission System as a mission-critical electronic service to the construction industry and participating government agencies in Singapore for a total of approximately S$4.8 million (or approximately RM10.8 million) over a contractual period of 5 years plus an option to extend the contract for a further 5 years. In addition, NCN is granted the rights to market commercial value-added services, including training, consultancy, online promotion, channel and marketing, via the CORENET e-Submission System and NCN’s internet portal over the contracted years. The project is expected to contribute positively to the result of the Group over the contractual period.
 
None of the directors and/or substantial shareholders of Nova MSC Berhad or persons connected to the said directors and/or substantial shareholders have any interest, direct or indirect in the new contract awarded.
 
This announcement is dated 19th June 2007.