SET Announcements

NEWS BCP BCP'S FINANCIAL STATEMENTS NOT COMPLY WITH ACCOUNTING STANDARD Referring to reviewed company financial statements for the period ending June 30, 1998 filed by The Bangchak Petroleum Plc, the auditor expressed an opinion on paragraph 3 stating"As stated in note 1.9.2., the company records the results of foreign exchange gains or losses on loan for construction project as project cost during construction and as income or expense after project completion. The full amount of the foreign exchange gains or losses is not reported as income or expense as in accordance with the generally accepted accounting principles. As such, the net loss for the second quarter 1998 was lower by 27.50 million Baht and the net profit for the first six months of 1998, lower by 84.01 million Baht. Total assets was also lower by 84.01 million Baht." The SET notified the company for rectification within 30 days or by September 26, 1998. The SET, therefore, caution shareholders and investors to study closely the official financial statements and also follow up to the revised version in the R-SIMS system. pui/bcp_e.txt/sm