SET Announcements

-Translation - 1000 / 057 / 2006 March 1, 2006 Subject : The progress of PTT's wavier of tender offer Attention : President of The Stock Exchange of Thailand According to the resolution of the Extraordinary General Meeting No. 1/2005 on October 11, 2005, the Bangchak Petroleum Public Company Limited (the Company) approved offering the new securities not greater than 283,000,000 shares and convertible debentures, which can be converted to ordinary shares, not greater than 135,000,000 shares ("new securities") to PTT Public Company Limited (PTT) resulting to PTT having ownership percentage in the Company greater than or equivalent to 25 percent but less than 50 percent of the registered and paid up share capital of the Company. However, PTT has obtained the waiver of the mandatory tender offer by way of Whitewash pursuant to the regulation of the Securities and Exchange Commission (SEC) which PTT has to buy the waived shares within 6 months reaching the due date on April 11, 2006. The Company would like to inform that the preparation period of bidding as well as clarification with EPC Contactor of the Product Quality Improvement Project (PQI) requires more time than the expected plan. As a result, the Company may not be able to offer such new securities to PTT within April 11, 2006.PTT,then, requested the waiver of the mandatory tender offer to SEC in order to allow PTT to buy the new securities without the tender offer. Afterwards, on February 27, 2006, SEC allowed PTT to able to buy the Company's new securities as above without the tender offer within 6 months since February 27, 2006. However, the Company expects that the private placement of the new securities to PTT would be completed in the second quarter of year 2006. However, the successful of such private placement also depends on other factors such as technical due diligence and debt financing etc. The Company will further inform progress to The Stock Exchange of Thailand (SET), shareholders as well as investors. Yours sincerely -Signed- (Patiparn Sukorndhaman) Senior Executive Vice President Finance and Accounting Corporate Planning and Investor Relation Office Tel: 0-2335-4583