Freight Management Holdings Bhd ("Freight" Or "The Company") Application For A Further Extension of Time of Six (6) Months to Comply With the Public Shareholding Spread Requirement Pursuant To Paragraph 8.15(1) of The Listing Requirements ("LR") Of Bursa Malaysia Securities Berhad ("Bursa Securities")

General Announcement

Reference No CM-070510-62833

Company Name	:	FREIGHT MANAGEMENT HOLDINGS BERHAD
Stock Name	:	FREIGHT
Date Announced	:	10/05/2007

Type	:	Announcement
Subject	:	Freight Management Holdings Bhd ("Freight" or "the Company") Application for a further extension of time of six (6) months to comply with the public shareholding spread requirement pursuant to paragraph 8.15(1) of the Listing Requirements ("LR") of Bursa Malaysia Securities Berhad ("Bursa Securities")

Contents :

Further to the Company's application to Bursa Securities on 4 April 2007 for a further extension of time of six (6) months until 5 October 2007 in order to comply with the public shareholding spread requirement pursuant to paragraph 8.15(1) of the LR, the Board of Directors of Freight would like to announce that :-

(i)Bursa Securities has resolved not to grant a further extension of time to the Company to comply with the public shareholding spread requirement pursuant to paragraph 8.15(1) of the LR of Bursa Securities.

(ii)The public shareholding spread of the Company as at 30 April 2007 is as follows:-
Percentage of public shareholdings : 26%
No. of public shareholders holding not less than 100 shares : 967

(iii)The steps taken or proposed to be taken by the Company to increase the public shareholding spread of the Company to comply with paragraph 8.15(1) of the LR of Bursa Securities ("Rectification Plan") and the status of implementation of the Rectification Plan are as follows :-

(a)The Company has and will continue to advise those directors, substantial shareholders and their associates who are not selling down their shares to refrain from increasing their shareholdings until the Company has regularised its public shareholding spread requirement.
(b)The Company will encourage and convince prospective investors to take up shares of the Company by promoting and creating better awareness and understanding of the Company's business to prospective investors.
(c)The Company will continue to encourage their employees to invest in the Company's shares through the open market, at the Company's internal meetings.

The Board of Freight is working towards achieving compliance with paragraph 8.15(1) of the LR of Bursa Securities on or before 18 May 2007. In view that a further extension of time was not granted by Bursa Securities to the Company to comply with the public shareholding spread requirement pursuant to paragraph 8.15(1) of the LR of Bursa Securities, the Company is aware that Bursa Securities may impose any appropriate penalty or take such action pursuant to paragraph 16.17 of the LR of Bursa Securities and in addition, may suspend trading in the Company's securities pursuant to paragraph 16.02 of the LR of Bursa Securities.