INFORMATION SHEET NO.A-0326(I)

[OKKAR66127@xxxxxxx]

                                         INFORMATION SHEET

                              NO.A-0326(I)        22nd February   1998

(1)		Mingaladon Industrial Park Emerges as Forerunner Project
		A ceremony to open Mingaladon Industrial Park was held in Mingaladon
Township in Yangon on 21 February. Joint Venture Agreement between the
Department of Human Settlement and Housing  Development under the Ministry of
Construction and Mitsui Co Ltd of Japan was signed on 7 February 1996.  Actual
construction works started on 28 March 1996 and completed within 22 months, in
the end of January 1998.

		The area of the Mingaladon Industrial Park is 89 hectares or 220 acres
approximately.  The total cost of the development is US $ 20 million.
Embankment to protect floodwater, concrete roads and drains, water retention
pond, industrial waste-water treatment plant, industrial power facilities and
telephone networks are provided according to international standards.  It is
the  opening of the first class International Standard Industrial Park in
Myanmar developed as a joint venture investment between DHSHD and Mitsui Co
Ltd.

		One of the main objectives in setting up this Industrial Park is to attract
investments from abroad and to obtain technology transfer in tapping Myanmar's
rich  natural resources.  This Industrial Park is the first in Myanmar, which
allows 50 years long-term leasehold for foreign investors.

		Mitsui Co Ltd in cooperation with DHSHD carried out extensive marketing
drive to attract investments in the Mingaladon Industrial Park.   15% of total
industrial land available for long term lease has already been taken by
investors from Japan, Korea, Singapore and Hong Kong Special Administrative
Region.
  
		The construction of Mingaladon Industrial Park Phase 1 has been completed
within two years.  Detailed design and Feasibility Study for Phase 11
Development is under way.

(2)		Royal Mingaladon Golf & Country Club Opens
		Royal Mingaladon Golf and Country Club was opened in the compound of
Mingaladon Garden City Project on 21 February.

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