General Announcement

Submitting Merchant Bank

:

AMMERCHANT BANK BERHAD

Company Name

:

IRE-TEX CORPORATION BERHAD

Stock Name

:

IRETEX

Date Announced

:

05/09/2006

Type

:

Announcement

Subject

:

IRE-TEX CORPORATION BERHAD ("ITCB" OR THE "COMPANY")

- PROPOSED PRIVATE PLACEMENT OF NEW ORDINARY SHARES OF RM1.00 EACH ("SHARES") OF UP TO TEN PERCENT (10%) OF THE ISSUED AND PAID-UP SHARE CAPITAL OF ITCB ("PROPOSED PRIVATE PLACEMENT")

Contents:

This announcement is dated 5 September 2006.

With reference to the announcements dated 4 August 2006 and 22 August 2006, on behalf of the Board of Directors of ITCB ("Board"), AmMerchant Bank Berhad (a member of Amlnvestment Group) ("AmMerchant Bank") is pleased to announce that ITCB had obtained the approval of the Ministry of International Trade and Industry ("MITI") via MITI's letter dated 1 September 2006, which was received on 5 September 2006 for the Proposed Private Placement.

The MITI's approval is subject to the condition that approval shall be obtained from the Securities Commission ("SC") in compliance with the Guidelines on the Acquisition of Interests, Mergers and Take-overs by Local and Foreign Interests.

The MITI's approval is also subject to the following conditions:-

(i) Eppor-Pack Sdn Bhd ("EPSB") shall comply with the equity condition imposed in the manufacturing licence of EPSB within two (2) years from the date of MITI's approval. EPSB is also required to submit a written proposal on compliance with the said equity condition within three (3) months from the date of MITI's approval; and

(ii) ITCB shall notify the MITI upon the completion of the Proposed Private Placement.

The Proposed Private Placement is now subject to the approvals of the following parties:-

(i) The Bursa Malaysia Securities Berhad for the listing of and quotation for the new Shares to be issued pursuant to the Proposed Private Placement; and

(ii) Any other relevant authorities (where applicable).