OLYMPIA INDUSTRIES BERHAD ("OLYMPIA" or "THE COMPANY")

(I) PROPOSED PAR VALUE REDUCTION; AND

(II) PROPOSED AMENDMENTS TO THE MEMORANDUM AND ARTICLES OF ASSOCIATION OF OLYMPIA

Reference is made tothe earlier announcements onthe Proposed Par Value Reduction and Proposed Amendments to the Memorandum and Articles of Association of the Company.

The Board of Directors of Olympia wishes to announce that the shareholders of the Company hadapproved allthe resolutions set out in the Notice of Extraordinary General Meeting ("EGM") dated 7 January 2016at the EGM held today.

This announcement is dated 29 January 2016.