SET Announcements

1600/052/2541 August 7, 1998 The Stock Exchange of Thailand 62 Ratchadapisek Road, Klongtoey Bangkok 10110 Attention : President of The Stock Exchange of Thailand Subject : Clarification On News As reported in some newspaper today regarding the estimated revenue and profit of the Bangchak Petroleum PCL for several study cases on privatization and capital increase, we would like to clarify as follow: On June 18, 1998 the State Enterprise Policy Committee (SEPC), which is chaired by Duputy Prime Minister Dr. Supachai Panitchapakdi, formed a subcommitee chaired by the Permanent Secretary of Finance, and including NEPO, PTT and Bangchak. The subcommittee is responsible for studying alternatives and details on Bangchak privatization under the guideline policy given by the SEPC. The subcommittee is currently studying a number of alternatives and has not yet completed. Bangchak has not provided the details as reported in the newspaper today. We understand that the news is based on the information from the meeting papers which should not be made public in the first place. Bangchak always request that no one except the government or the Ministry of Finance should give any information regarding the company since it might cause unintended irrevocable impact on the company+s business and stock price. Yours sincerely (Mr. Rabil Pornpatkul) Senior Manager, Corporate Planning Office Corporate Planning Office Tel: 301-2842