General Announcement Reference No O&-070523-65443

Submitting Merchant Bank	:	KENANGA INVESTMENT BANK BERHAD
Company Name	:	REXIT BERHAD (MESDAQ Market)
Stock Name	:	REXIT
Date Announced	:	23/05/2007

Type	:	Announcement
Subject	:	REXIT BERHAD ("REXIT" OR "COMPANY") PROVISION OF REXIT'S INSURANCE SOFTWARE AND SERVICES TO ASIA INSURANCE COMPANY LIMITED (HONG KONG)

Contents :

On behalf of the Company, Kenanga Investment Bank Berhad (formerly known as K & N Kenanga Bhd) ("Kenanga") is pleased to announce that Rexit International Sdn Bhd ("Rexit International") has been appointed to provide its insurance software and services to Asia Insurance Company Limited (Hong Kong) ("AICL").

This is Rexit International's first overseas contract. This contract will be a showcase implementation for the Hong Kong and China markets which offer huge potential for the Company.

An announcement setting out the details of Rexit International's appointment will be made upon the execution of an agreement between Rexit International and AICL.

The insurance software and services cover all aspects of their operations from quotation and marketing to underwriting, risk accumulation, reinsurance, policy administration, claims management, accounting and MIS.

AICL is a wholly-owned subsidiary of Asia Financial Holdings Ltd with a turnover of HKD742 million in 2006. AICL is a top five player in the local general insurance market and they have a portfolio which covers all classes of general insurance.

AICL has its Head Office in Central and has two branch offices in Hong Kong as well as branches in Macau and Taiwan. AICL also has a representative office in Shenzhen.

This announcement is dated 23 May 2007.

© 2007, Bursa Malaysia Berhad. All Rights Reserved.