General Announcement
Reference No IC-050601-B6ED3

Company Name	:	INDUSTRIAL CONCRETE PRODUCTS BERHAD
Stock Name	:	ICP
Date Announced	:	01/06/2005


Type	:	Announcement
Subject	:	Notice of Demand pursuant to Section 218 of the Companies Act, 1965

Contents :

The Company was, on 31 May 2005, served with a Notice of Demand pursuant to Section 218 of the Companies Act, 1965 ("the Notice") by the Solicitors of Concrete Engineering Products Berhad ("CEPCO").

Under the Notice, CEPCO has claimed a sum of RM1,443,232.23, being the outstanding interest on the Judgment sum of RM11,533,119.27 calculated at 8% per annum from 6 March 2001 to 30 December 2004 allegedly due and payable to CEPCO as at 30 December 2004 pursuant to a Consent Judgment dated 26 January 2002 obtained in the High Court of Malaya at Kuala Lumpur under Suit No. S5-22-370-1996. The outstanding interest of RM1,443,232.23 is to be paid within 21 days of the receipt of the Notice; failing which, the Company will be deemed unable to pay its debt and a winding-up petition will commence against the Company.

The Company had on 21 May 2002 placed the Judgment sum of RM11,533,199.27 and interest of RM2,800,178.16 to the joint account of two (2) solicitors firms as directed by the Court, which was released to CEPCO on 30 December 2004, after the Company's appeal was dismissed.

The Company denies owing CEPCO the outstanding interest of RM1,443,232.23 as the Judgment sum of RM11,533,119.27 had been fully settled to CEPCO. Accordingly, the Company will resist vehemently any winding-up proceedings from being instituted against the Company.

The amount claimed by CEPCO is not substantial and is disputed, and the Company is of the opinion that the Notice will not have any significant financial and operational impact on the Group.

This announcement is also available for reference at IJM website at http://www.ijm.com/.