AmMerchant Bank Berhad (AmMerchant Bank) today signed an underwriting agreement with JobStreet Corporation Berhad for a flotation exercise on the MESDAQ Market of the Bursa Malaysia Securities Exchange Berhad (Bursa Securities). AmMerchant Bank is the Adviser, Managing Underwriter and Sole Placement Agent for this listing exercise. The signing ceremony was held at the Renaissance Hotel, Kuala Lumpur, in conjunction with JobStreet’s HR Networking event which is attended by 200 JobStreet clients.

The signing ceremony was witnessed YB Datuk Wira Dr Fong Chan Onn, the Minister of Human Resources. Signing on behalf of JobStreet Corporation Berhad was YBhg Datuk Ali Abdul Kadir, its Chairman, and Mr Mark Chang, its Chief Executive Officer. AmMerchant Bank was represented by YBhg Tan Sri Dato' Azman Hashim, Chairman of AmBank Group. The co-underwriters for this listing exercise is AmSecurities Sdn Bhd, which was represented by Encik Mustafa Mohd Nor, its Managing Director.

In his speech, YBhg Tan Sri Dato' Azman said: "The IPO listing of JobStreet involves the public issue of 18.0 million new ordinary shares of RM0.10 each (Shares) at an issue price of RM0.54, which has been approved by the relevant authorities including the Securities Commission (SC) and Bursa Securities. It will consist of the following:

• 3.0 million Shares by way of application by public;
• 6.0 million Shares will be made available for application by the eligible directors and employees and/or other persons and companies contributing to the success of the Group; and
• 9.0 million shares will be reserved for private placement to selected investors which have been identified.

The enlarged share capital of the Company upon listing is 201,000,000 shares.

Mark Chang, CEO of JobStreet.com, says: "We are confident that all the steps that we have undertaken with respect to our corporate governance, management strength and product portfolio will help ensure we are in the best position to offer shares to the public. We believe that our shareholders, customers and users will continue to be rewarded with a solid company that's positioned to deliver valuable services, long-term growth and an increase in shareholder value."

The JobStreet Group owns and operates one of Asia Pacific's most popular career site at www.jobstreet.com, with over 2.8 million members and facilitating more than one million online applications a month, with over 80 million page views. JobStreet.com currently has eight offices in Malaysia, Singapore, India and the Philippines and a customer base of over 15,000 companies in the region. The Group's flagship companies are involved in the provision of a host of synergistic operations relating to human capital, ranging from online job postings, career website management, fresh graduates' recruitment solutions, flexible staffing support and technology-assisted search and selection services.

YBhg Tan Sri Dato' Azman further added that AmMerchant Bank topped the league table for the number of listings on the Bursa Securities thus far in 2004. He adds: “We are honoured to add JobStreet to our list of successful IPOs completed to date. We are confident that the Company will savour the moment of its listing on the MESDAQ Market, from which point more doors of opportunities will open."

For more information, kindly contact Ms Pushpa Rajadurai, Director/Head, Corporate Finance, AmMerchant Bank Berhad at tel no:03-2078 2633/44