SET Announcements

-Translation- 31 March 2006 Re: Report on the resolutions of the Board of Directors Meeting Attn: President of the Stock Exchange of Thailand Pursuant to the resolution of the Board of Directors meeting of The Bangchak Petroleum Public Company Limited (the "Company") No. 3/2549, held on 16 March 2006, the Board resolved to approve the project cost of the Product Quality Improvement Project (the "Project"), the details of which were as per disclosed by the Company in accordance with the applicable regulations. The Company wishes to report the resolutions of the Board of Directors Meeting No. 4/2549, held on 31 March 2006 at 9.30 a.m., pursuant to which the Board of Directors resolved to approve matters related to the financing of the Project as follows: 1.That the Company enter into facilities agreements to mobilize funds for the Project, whereby TMB Bank Public Company Limited was appointed as the Lead Arranger in respect of a syndicated loan, in the facilities amount of Baht 8,800 million, consisting of a term facility of Baht 8,400 million and a VAT facility of Baht 400 million. The Company shall arrange for its assets to be security for such facilities in the manner to be agreed upon between the Company and the lenders. 2.That the Company enter into an amendment agreement in relation to the existing credit facilities dated 17 February 2004 with Krung Thai Bank Public Company Limited, regarding the investment and creation of indebtedness under the Project and the provision of consent to use the Company's assets as common security with the Project lenders, including the increase in the working capital facility from Baht 4,000 million to Baht 6,000 million. 3.That the President or any person authorized by the President be authorized to execute the facilities agreements as specified under item 1 and 2 including any other document described therein and to do any acts and consider adjusting terms and conditions of such agreements, as necessary and appropriate. Please be informed accordingly. -signed- (Patiparn Sukorndhaman) Senior Executive Vice President Accounting and Finance