General Announcement
Reference No O&-060524-80730
Submitting Merchant Bank : K & N KENANGA BHD
Company Name : REXIT BERHAD (MESDAQ Market)
Stock Name : REXIT
Date Announced : 25/05/2006


Type : Announcement
Subject : MEMORANDUM OF UNDERSTANDING BETWEEN REXIT BERHAD ("REXIT" OR THE "COMPANY") AND MARUBENI CORPORATION OF JAPAN ("MARUBENI") FOR THE FORMATION OF A JOINT VENTURE TO MARKET AND PROMOTE REXIT'S PRODUCTS AND SERVICES OUTSIDE OF MALAYSIA.

Contents :


1. Introduction


2. Salient terms of the MOU

3. Information on Marubeni Corporation
4. Rationale


5. Financial Effects
6. Approvals required
7. Interest of Directors and Substantial Shareholders


8. Directors' Recommendation


9. Advisers and Sponsor
This announcement is dated 25 May 2006.



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