NOVA MSC BERHAD (“NOVAMSC” OR THE “COMPANY”) PROPOSED PRIVATE PLACEMENT OF UP TO 34,517,825 NEW ORDINARY SHARES OF RM0.10 EACH IN NOVAMSC (“PROPOSED PRIVATE PLACEMENT”)

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We refer to the announcements dated 5 March 2007 and 27 March 2007 made in relation to the Private Placement.
Pursuant thereto, on behalf of the Board of Directors of NOVAMSC (“Board”), OSK Investment Bank Berhad (formerly known as OSK Securities Berhad) (“OSK”) wishes to announce that the Board has fixed the issue price for the second tranche of shares to be issued pursuant to the Private Placement at RM0.10 for every new ordinary share of RM0.10 each in NOVAMSC (“Placement Share(s)”). The issue price of RM0.10 represents a premium of approximately 8.81% from RM0.0919, being the five (5) – day weighted average market price of NOVAMSC’s shares up to and including 24 August 2007.

It is not the intention of the Board to place the Placement Shares to the Directors or substantial shareholders of NOVAMSC and/or persons connected to them.

This announcement is dated 27 August 2007.