ILB SELLS WHOLE EQUITY INTEREST IN CHINA SUBSIDIARY

KUALA LUMPUR, June 2 (Bernama) -- Integrated Logistic Bhd (ILB) has signed a
Share Sale Agreement to sell the whole equity interest in Integrated Shun Hing
Logistic (Lingang) Co Ltd (ISH Lingang) to Shanghai Zhong Se Realty Company Ltd
for approximately RM29.7 million (US$9.9 million) cash.

ILB in a filing to Bursa Malaysia (Malaysia's stock exchange) Thursday said
the agreement was signed through its 70 per cent-owned subsidiary, Integrated
Logistics (China) Co Ltd (ILCN).

ISH Lingang is wholly-owned subsidiary of ILCN.

It said the sale is targeted to be completed by Aug 31 and proceeds from
it would be reinvested in other synergistic logistic projects with higher
yields and potential capital appreciation.

The proposed sale it said, is part of the company's continuous
review of the utilisation of its assets, and is expected to result in a gain on
disposal after tax of approximately RM4.7 million (US$1.56 million).