General Announcement

General Announcement
Reference No O&-070717-65755

Submitting Merchant Bank	:	KENANGA INVESTMENT BANK BERHAD
Company Name	:	REXIT BERHAD (MESDAQ Market)
Stock Name	:	REXIT
Date Announced	:	17/07/2007


Type	:	Reply to query
Reply to Bursa Malaysia's Query Letter - Reference ID	:	ZM-070716-52145
Subject	:	Rexit Berhad ("Rexit" or "Company") Article entitled "Rexit to rake in RM2.7b from foray into Japan"

Contents :

We refer to Bursa Malaysia Securities Berhad's ("Bursa Securities") letter dated 16 July 2007 in relation to the article appearing in New Straits Times on 14 July 2007.

The Company wishes to inform Bursa Securities that the Company did not make the statement as reported in the above article. As announced on 9 July 2007, Rexit International Sdn Bhd ("Rexit International") has received a letter of intent ("LOI") from Marubeni Safenet Co. Ltd. (Japan) ("Marubeni Safenet") for the implementation of Rexit's insurance software and services.

Rexit International and Marubeni Safenet are currently negotiating the terms and conditions of the agreement. Before the agreement is reached, the Company does not have any firm indication as to the quantum of the aforesaid contract with Marubeni Safenet. Nevertheless, in the event that the agreement is concluded, we expect the contract to contribute positively to Rexit International's financial performance, given the relatively large size of the Japanese insurance market.

If and when an agreement between Rexit International and Marubeni Safenet is eventually concluded, the Company will duly inform Bursa Securities of the agreement details and the financial impact it will have on Rexit International.

This announcement is dated 17 July 2007.

Query Letter content :
We refer to the above news article appearing in New Straits Times, Page 30,
Saturday, 14 July 2007 , a copy of which is enclosed for your reference.
In particular, we would like to draw your attention to the underlined sentence,
which is reproduced as follows:-
"The contract will be for five years and Rexit International stands to earn
US$160 million (RM552 million) per annum,"
In accordance with Bursa Securities' Corporate Disclosure Policy, you are
requested to furnish Bursa Securities with an announcement for public release
confirming or denying the above reported article in particular the underlined
sentence after due and diligent enquiry with all the directors, major
shareholders and all such other persons reasonably familiar with the matters
about which the disclosure is to be made in this respect. In the event you deny
the above reported sentence or any other part of the article, you are required
to set forth facts sufficient to clarify any misleading aspects of the same. In
the event you confirm the above reported sentence or any other part of the
article, you are required to set forth facts sufficient to support the same.

Please furnish Bursa Securities with your reply within one (1) market day from
the date hereof.
Yours faithfully

TAN YEW ENG
Head, Issuers
Listing Division
Group Regulations
TYE/LPY
cc: Encik Chung Tin Fah, Securities Commission