FINAL  DRILLING  RESULTS,  CERTIFICATION  OF  GAS   RESERVES  AND  THE
ACQUISITION  OF  ADDITIONAL  INTEREST  IN  THE  TANGGUH LNG PROJECT,
EASTERN INDONESIA

On  behalf  of its wholly-owned subsidiary Cairns Limited ("Cairns"), Genting Berhad is
pleased  to announce  that certification work undertaken by the independent petroleum
engineering firm DeGolyer and MacNaughton ("D&M") was completed on 31 July 1998.
The objective of this exercise was to quantify the natural gas reserves base supporting
the Tangguh Liquefied Natural Gas ("LNG")  Project  to  be located in Berau Bay,  Irian
Jaya, eastern Indonesia.

On the basis of  their work,  D&M certified 14.4 trillion cubic feet ("TCF") of  proven gas
reserves  distributed  among a number of fields located  within  the Berau,  Muturi  and
Wiriagar Blocks in Irian Jaya,  eastern Indonesia.  The largest of these is  the Vorwata
field in which D&M certified 10.44 TCF of proven gas reserves and in  which Cairns' net
interest amounts to 1.46 TCF.

A  two-train  six million  tonne per year (mmtpa) first  phase  has been  planned for the
Tangguh LNG  Project.  These  proven gas reserves  will support three trains,  each of
3-3-5 mmtpa  of  LNG  for  25 years.  This  will  allow   Tangguh  to  support  both   the
traditional  markets as well as  provide LNG  for emerging markets in the Asia  Pacific region.

This  project  has  advanced  quickly   from  a rank exploration  prospect in  1994  to a
proven reserve base  for  Pertamina's LNG business today.  Pertamina   is the  largest
single  supplier  of  LNG  in  the  world.    Development  planning  efforts are  currently
ongoing  to  support a Year 2003/2004 schedule for first LNG delivered   from Tangguh.
To  achieve  this  objective,   additional  development   expenditures  will  be   incurred.

With  reference to  the  results   of  the  certification  process,  Dato'  K.T.  Lim,   Joint
Managing  Director  of  Genting  Berhad  stated that  "This discovery is significant not
just for Cairns and its partners, but also for our Indonesian neighbours.   Construction of this LNG plant and its related facilities will generate   hundreds of jobs and will go a long way towards revitalising the  local economy of  Irian  Jaya and eastern Indonesia. Once completed, revenues   flowing  from this project to the Government of Indonesia will  be measured   by the billions of dollars.  We are pleased to be able to contribute
in  some  small  way,  to  the   regeneration  of  the  Indonesian  economy."

Dato' K.T. Lim further commented that  "Cairns was only formed in 1996.  In the short
span  of  two  years,  it has  participated in the drilling of eight wells, six of which were
gas  discoveries  and  a seventh  had   excellent  shows  but  was not  fully evaluated because   of   mechanical   problems   encountered    during   testing.    Independent engineering   experts  have  certified  proven  gas  reserves  net   to  Cairns'   interest equivalent to 1.46 trillion cubic feet, exclusive of any reserves from  the Mogoi Deep-1 discovery which was  announced last year.  Moreover, additional  prospects remain to be tested on  this block.  Naturally, we are delighted  with the outcome of this work."

Mr. Dennis Paterson, Executive Vice President of Cairns Limited remarked that  "The
Vorwata  gas  field  discovery is one of global proportions.  The gas reserves certified
by  D&M are approximately  equivalent to 2 billion barrels of oil equivalent (Boe).   On
this basis,  the  Vorwata  field  ranks  as  the  third   largest  gas  field  to have been discovered  in   Indonesia, exceeded  in  size  only by the giant Natuna and Arun gas fields.  As the development of this  field  proceeds,  there is every possibility that the final  reserves  figures will  exceed  those   already  certified.   In this case, it is quite possible  that   the  reserves  of  Vorwata  will  exceed  those   of  Arun."

In a further development, Cairns stated that, in collaboration with  British Gas  ("BG"),
it had  acquired  the  full  5%  interest held by  P.T. Sapta  Patra  Wisesa ("SPW") in  the Muturi PSC.  This  interest  was   shared between BG and Cairns in proportion to their   respective  interests  in the block.   Following this acquisition,  the equity in the block is shared at BG Exploration & Production Ltd. (52.63%)  and Cairns  (47.37%).

FOOTNOTES:
1. The working interest owners in the forementioned PSCs are as follows:

2. Certified  Proved  and   Probable  Reserves  distribution  by  Production   Sharing
    Contract  Area,  based  on  this  most   recent  certification effort by DeGolyer and
    MacNaughton, are as follows: