SET Announcements

TRANSLATION 1000 / 073 / 2005 March 30, 2005 Attention : President of The Stock Exchange of Thailand Subject : Additional Information for BCP's topic in the Thairath newspaper. Since the Thairath newspaper no.17235,page 8,on 30th March 2005 published news concerning the Bangchak Petroleum Public Company Limited (BCP).Some parts of such news were not completed, which may cause to the misunderstanding of the investors.Therefore,the Company would like to give the additional information as follows The Company completed the Business and Financial Restructuring Plan in the early of the year 2004.Such successes helped the Company to lower the interest expenses of more than Baht 300 million a year, and enhance the additional revenues from the business co-operations with alliances of more than Baht 700 million a year. Therefore, the Company posted the EBITDA of Baht 4,117 million and Net profit of Baht 2,636 million in 2004. Presently, the Company has implemented the additional business restructuring plan by investing in the Product Quality Improvement Project to reduce the fuel oil production from 30% to less than 10% and increase the gasoline and diesel production instead, making the value addition to the product mix of the Company. The Company has employed the Foster Wheeler Company and Universal Oil Product Company (UOP), who are the leading companies in the Refinery's and Petrochemical plant's technologies, to execute the technical and economic feasibility study of the project.The study was already completed,and showed well high economic return. For the progress of the project,it's under the step of Basic Engineering Design by UOP and Foster Wheeler,which is expected to completed and ready for bidding process for the construction contractor in the 3rd quarter of this year. The Company also prepares the financial plan for the project, which will be finalized in the 3rd quarter of this year also. The project is expected to complete at the end of 2007 and much create the economic values addition to the Company and its shareholders as the business and financial restructuring plan. However, during the construction period of the project,the Company will expand the business co-operation with Thaioil Plc. by increasing the long residue fuel oil volumes sending to Thaioil refinery for the value addition products. In addition, the Company will develop the other co-operation activities which create more value addition and cost reduction with other alliances in order to enhance the benefits for both parties. Please be informed accordingly. Yours sincerely, - Signed - (Patiparn Sukorndhaman) Senior Executive Vice President Corporate Planning and Investor Relation Office Tel : 0-2335-4583