Freight Management Holdings Bhd ("FMH" or "Company") (i) proposed bonus issue of 36,514,286 new ordinary shares of RM0.50 each in FMH ("Bonus Shares") On the Basis of 3 bonus shares for Every 7 Existing Ordinary shares of RM0.50 Each In FMH ("Shares" Or "FMH Shares") Held By the Shareholders of FMH ("Proposed Bonus Issue"); (ii) proposed transfer of the listing of and Quotation For the Entire enlarged issued and paid-up share capital of FMH From the Second board to the Main Board of Bursa Malaysia Securities Berhad Upon Completion of the proposed bonus Issue ("Proposed Transfer Listing"); and (iii) proposed placement of up to 12,171,428 New FMH Shares ("Placement Shares"), Representing Up To 10% of the Enlarged Issued and Paid-up Share Capital Of FMH ("Proposed Placement"). (The Proposed Bonus Issue, Proposed Transfer Listing And Proposed Placement Shall Be Collectively Known As The "Proposals").

General Announcement

Reference No MI-071017-64050

Submitting Merchant Bank	:	RHB INVESTMENT BANK BERHAD
Company Name	:	FREIGHT MANAGEMENT HOLDINGS BERHAD
Stock Name	:	FREIGHT
Date Announced	:	17/10/2007

Type	:	Announcement
Subject	:	FREIGHT MANAGEMENT HOLDINGS BHD ("FMH" or "Company") (i) Proposed bonus issue of 36,514,286 new ordinary shares of RM0.50 each in FMH ("Bonus Shares") on the basis of 3 Bonus Shares for every 7 existing ordinary shares of RM0.50 each in FMH ("Shares" or "FMH Shares") held by the shareholders of FMH ("Proposed Bonus Issue"); (ii) Proposed transfer of the listing of and quotation for the entire enlarged issued and paid-up share capital of FMH from the Second Board to the Main Board of Bursa Malaysia Securities Berhad upon completion of the Proposed Bonus Issue ("Proposed Transfer Listing"); and (iii) Proposed placement of up to 12,171,428 new FMH Shares ("Placement Shares"), representing up to 10% of the enlarged issued and paid-up share capital of FMH ("Proposed Placement"). (The Proposed Bonus Issue, Proposed Transfer Listing and Proposed Placement shall be collectively known as the "Proposals").

Contents :

Further to the announcement dated 11 September 2007 in respect of the Proposals, on behalf of the Board of Directors ("Board") of FMH, RHB Investment Bank Berhad wishes to announce that the Securities Commission ("SC") has vide its letter dated 12 October 2007 (which was received on 17 October 2007), approved the Proposed Transfer Listing and the Proposed Placement.

The approval above is subject to the following conditions:

(i) RHB Investment Bank and FMH to fully comply with all the relevant requirements pertaining to the implementation of the Proposed Transfer and Proposed Private Placement, as stipulated in Guidance Note 8C and other relevant requirements of the Policies and Guidelines on Issue/Offer of Securities; and

(ii) RHB Investment Bank / FMH is to inform the SC upon completion of the Proposed Transfer and Proposed Private Placement.

This announcement is dated 17 October 2007.