General Announcement
Reference No O&-061012-44181
Submitting Merchant Bank:K & N KENANGA BHD
Company Name:REXIT BERHAD (MESDAQ Market)
Stock Name :REXIT
Date Announced:12/10/2006


Type:Announcement
Subject:PROPOSED JOINT VENTURE BETWEEN REXIT BERHAD ("REXIT" OR THE "COMPANY") AND MARUBENI CORPORATION OF JAPAN ("MARUBENI") ("PROPOSED JOINT VENTURE")

Contents :

1. INTRODUCTION


2. DETAILS OF THE PROPOSED JOINT VENTURE


3. INFORMATION ON MARUBENI

4. SALIENT TERMS OF THE JV AGREEMENT5. RATIONALE


6. SOURCE OF FUNDS


7. PROSPECTS AND INDUSTRY REVIEW

8. RISK FACTORS

9. FINANCIAL EFFECTS10. APPROVALS REQUIRED
11. DIRECTORS' AND SUBSTANTIAL SHAREHOLDERS' INTERESTS


12. DEPARTURE FROM THE SECURITIES COMMISSION'S POLICIES AND GUIDELINES ON ISSUE/OFFER OF SECURITIES ("SC GUIDELINES")

13. DIRECTORS' RECOMMENDATION


14. ESTIMATED TIME FRAME FOR COMPLETION


15. ADVISERS AND SPONSOR

16. DOCUMENTS FOR INSPECTION
This announcement is dated 12 October 2006.



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