SET Announcements

-translation- 1000/ 141 /2006 May 16, 2006 Subject : Structure of Shareholders of the Company after share increasing Attention : President of the Stock Exchange of Thailand Regarding to the Bangchak Petroleum Public Company Limited ("the Company") increased share capital by issuing and offering of 428,092,940 common shares, par value at 1 Baht per share, to PTT Public Company Limited ("PTT") and specific investors and/or institutional investors, either domestic or foreign for partial source of fund for the Product Quality Improvement project. The Company would like to inform that the major shareholder structure of the Company after such share capital increasing on May 16, 2006, will be the following: Numbers of share % - PTT Public Company Limited * Direct holding 280,680,000 25.08 * Indirect holding (held through Siam DR Co., Ltd.) 52,240,000 4.67 Total 332,920,000 29.75 - Ministry of Finance 124,947,970 11.17 Remark 1. Paid up capital after this capital increase is equal to 1,119,071,351 shares. 2. Based on shareholder's data as of book closing date of April 20, 2006. From this capital increase, PTT's direct and indirect ownership in the Company is 25.08% and 4.67% respectively which resulted to PTT's total shareholding in the Company is 29.75%. At this level of shareholding, PTT has no objective to render significant change in BCP's business operation plan during the next 12 months. When being approved by the related laws and regulations, PTT shall nominate two persons to be directors of the Company in addition to the current two PTT's representative directors. However, at this level of five independent directors, the structure of the Board of Director of the Company is still considered appropriate as it provides good balance of power and authorities. In addition, under the good corporate governance as explicitly adopted by both companies, it defines the guideline for all directors and employees of the Company to work transparently and fair to all related parties by concerning the highest benefit to the Company and its shareholders. Detail information as disclosed in the Disclosure of Connected Transaction dated September 19, 2005. Please be informed accordingly. Sincerely yours, -Signed- (Anusorn Sangnimnuan) President Corporate Planning and Investor Relation Office Tel : 0-2335-4583