Investors

Axiata strives to raise our shareholder value by striking a balance between
short-term profitability and long-term growth.

TM International Berhad ("TMI")
(i) Proposed Subscription by TMI Mauritius Ltd ("TMI Mauritius"), A Wholly-owned Subsidiary of TMI, of 464,734,670 New Ordinary Shares Of Indian Rupee ("RS.") 10 Each In Idea Cellular Limited ("IDEA"), Representing Approximately 14.99% of the Enlarged Issued Share Capital Of Idea ("Proposed Subscription");
(ii) Proposed Mandatory General Offer By Idea Together With TMI, TMI Mauritius, TMI India Ltd And Green Acres Agro Services Private limited As Persons Acting in Concert ("PACS") With Idea, For The Remaining 137,985,050 Ordinary Shares of RS.10 Each In Spice Communications Limited ("Spice"), Not Held By Idea And The PACS ("Proposed Offer"); And
(iii) Proposed Merger Of Spice And Idea ("Proposed Merger") (Collectively Referred To As The "Proposals")

Back 30 Jun 2008
General Announcement
Reference No MM-080630-60949

Submitting Merchant Bank
:
 CIMB INVESTMENT BANK BERHAD
Company Name
:
 TM INTERNATIONAL BERHAD
Stock Name
:
 TMI
Date Announced
:
 30/06/2008


Type
:
 Reply to query
Reply to Bursa Malaysia's
Query Letter - Reference ID
:
 NM-080626-44769
Subject
:
TM INTERNATIONAL BERHAD ("TMI")

(I) PROPOSED SUBSCRIPTION BY TMI MAURITIUS LTD ("TMI MAURITIUS"), A WHOLLY-OWNED SUBSIDIARY OF TMI, OF 464,734,670 NEW ORDINARY SHARES OF INDIAN RUPEE ("RS.") 10 EACH IN IDEA CELLULAR LIMITED ("IDEA"), REPRESENTING APPROXIMATELY 14.99% OF THE ENLARGED ISSUED SHARE CAPITAL OF IDEA ("PROPOSED SUBSCRIPTION");

(II) PROPOSED MANDATORY GENERAL OFFER BY IDEA TOGETHER WITH TMI, TMI MAURITIUS, TMI INDIA LTD AND GREEN ACRES AGRO SERVICES PRIVATE LIMITED AS PERSONS ACTING IN CONCERT ("PACS") WITH IDEA, FOR THE REMAINING 137,985,050 ORDINARY SHARES OF RS.10 EACH IN SPICE COMMUNICATIONS LIMITED ("SPICE"), NOT HELD BY IDEA AND THE PACS ("PROPOSED OFFER"); AND

(III) PROPOSED MERGER OF SPICE AND IDEA ("PROPOSED MERGER")

(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

Contents
:

(The definitions used in this announcement have the same meanings as those set out in the announcement dated 25 June 2008.)

We refer to the letter dated 27 June 2008 from Bursa Malaysia Securities Berhad with respect to our announcement dated 25 June 2008 on the Proposals.

(i) The applications to the relevant Indian authorities for the Proposals are expected to be submitted within 1 month from the date of this announcement. Upon approval of the Scheme of Arrangement by the Indian Stock Exchanges, Spice and Idea will submit an application to the High Courts of New Delhi and Gujarat.

The application to BNM for its approval for the Proposed Subscription and Proposed Offer is expected to be submitted within 1 week from the date of this announcement.

(ii) TMI Group will fund its portion of the Proposed Offer through bank borrowings and/or internally generated funds, the breakdown of which will be determined closer to the commencement of the Proposed Offer.

(iii) The Proposed Offer is driven by the obligation for Idea and the PACs to carry out a mandatory general offer on the remaining Spice Shares not held by Idea and the PACs in accordance with the SEBI Takeover Regulations. As such, the basis of the offer price of Rs.77.30 per Spice Share pursuant to the Proposed Offer is the price to be paid by Idea to MCPL under the Proposed MCorp-Spice Acquisition of Rs.27,198.8 million (approximately Rs.96.63 per Spice Share) less the non-compete premium of Rs.5,441.2 million (approximately Rs.19.33 per Spice Share).


This announcement is dated 30 June 2008.

Query Letter
content
:
We refer to your announcement dated 25 June 2008 in respect of the above
captioned matter.

In this connection, kindly furnish Bursa Securities with the following
additional information for public release :-

1. The estimated time frame for submission of the application to the relevant
authorities with regards to their approvals for the Proposals.
2. The source of funding for the TMI group's portion of the Proposed Offer.
3. The basis for the offer price of RS77.30 per Spice share pursuant to the
Proposed Offer.

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




Yours faithfully





TAN YEW ENG
Head, Issuers
Listing Division, Regulation




MZM/NMA
c.c:- Head, Market Surveillance Department, Market Supervision Division,
Securities Commission (via fax)