Penerbangan Malaysia Berhad

TENGKU AZMIL ZAHRUDDIN RAJA ABDUL AZIZ IS PMB’S NEW MANAGING DIRECTOR/CEO

13 August 2004 – The Board of Directors of Penerbangan Malaysia Berhad (PMB), the holding company of Malaysia Airlines (MAS), today announced the appointment of Tengku Azmil Zahruddin Raja Abdul Aziz as its Managing Director/CEO with effect from 16 August 2004, succeeding Dato’ Gumuri Hussain who will be retiring on 15 August 2004.

Dato’ Gumuri was appointed by the Government on 16 August 2002 to establish PMB and became the first Managing Director/CEO of the Company. He was instrumental in steering the Company to where it is today.

His successor, Tengku Azmil Zahruddin, aged 34, graduated from the University of Cambridge with double first class honours in Economics. He is a chartered accountant and an associate member of the Malaysian Institute of Accountants (MIA), the Institute of Chartered Accountants in England and Wales and the Association of Corporate Treasurers (UK). He joined PMB in October 2002 as its Chief Financial Officer and was subsequently re-designated as Executive Director/Chief Financial Officer. Prior to joining PMB, he was working in the London and Hong Kong offices of PricewaterhouseCoopers. While employed with PricewaterhouseCoopers, he specialized in the banking and capital markets sector, working on capital markets transactions and providing advice on operational and regulatory risk and structured and derivative transactions.

PMB was incorporated in July 2002 as a wholly owned subsidiary of the Minister of Finance Inc. following the Widespread Asset Unbundling (WAU) restructuring of MAS. Under the WAU arrangement, PMB acquired the economic interest in all aircraft owned by the national carrier and leased them back to MAS. In addition, PMB has taken over the long-term liabilities of MAS. Presently, PMB holds 69.34% of the issued paid up capital of MAS.

The core businesses of PMB include amongst others, the acquisition, sale and leasing of aircraft and aircraft engines, investment holding and ownership of the domestic airline business.