General Announcement
Reference No O&-061220-65124

Submitting Merchant Bank	:	K & N KENANGA BHD
Company Name	:	REXIT BERHAD (MESDAQ Market)
Stock Name	:	REXIT
Date Announced	:	20/12/2006


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

Contents :

We refer to the previous announcements made on behalf of Rexit by K & N Kenanga Bhd ("Kenanga") in relation to the Proposed Joint Venture and the announcement made today in relation to the subscription of shares in Rexit International Sdn Bhd ("Subscription in Rexit International").

On behalf of the Board of Directors of Rexit, Kenanga is pleased to announce that with the completion of the Subscription in Rexit International, all conditions precedent and obligations as at Closing (as set out in the Joint Venture Agreement) have been fulfilled. As such, the Proposed Joint Venture is deemed completed on 20 December 2006.

This announcement is dated 20 December 2006.