Head Office

Sale of Control Block and New Director Appointed
June 20, 2003

The Company is pleased to announce that Overseas and General Limited, former control shareholder of the Company, has finalized the transfer of its entire interest, namely 25,933,312 common shares of the Company, to some 15 or so purchasers, some of whom are known to the Company.  Although such purchasers purchased their shares concurrently, the Company is not aware of any voting arrangement, oral nor written, amongst these purchasers, nor is it aware of any new control block.

Further, the Company is pleased to announce the appointment of Levi Giesbrecht to the board of directors.  Mr. Giesbrecht, one of the above 15 or so purchasers, is a Canadian citizen and resident, and is a Director and founder of various companies in British Columbia over the last 20 years.  He brings an additional entrepreneurial vision to our Board.  He replaces Mr. Leong Kian Ming, of Overseas & General, resident in Malaysia, who has resigned effective Friday 20th June, 2003 after this transaction.  To ensure continuity of his knowledge and assistance, Mr. Leong will be a consultant for Odin until the next Annual General Meeting.