General Announcement
Reference No O&-061201-41604

Submitting Merchant Bank	:	K & N KENANGA BHD
Company Name	:	REXIT BERHAD (MESDAQ Market)
Stock Name	:	REXIT
Date Announced	:	01/12/2006


Type	:	Announcement
Subject	:	REXIT BERHAD ("REXIT" or "COMPANY") INCORPORATION OF NEW SUBSIDIARY – REXIT INTERNATIONAL SDN BHD

Contents :

On behalf of the Board of Directors of Rexit, K&N Kenanga Bhd wishes to announce that a new subsidiary, Rexit International Sdn Bhd ("Rexit International") has been incorporated in Malaysia on 29 November 2006 pursuant to the joint-venture between Rexit and Marubeni Corporation of Japan. Rexit holds 51% equity interest in Rexit International, while Marubeni holds the remaining 49% equity interest.

As at todate, the authorised share capital of Rexit International is RM22,000,000 comprising 22,000,000 shares of RM1.00 each ("Shares"), while its issued and paid-up share capital is RM100 comprising 100 Shares.

Pursuant to the joint venture agreement, the issued and paid-up share capital of Rexit International will be increased to RM8,000,000 comprising 8,000,000 Shares.

This announcement is dated 1 December 2006.