SET Announcements

(Translation) 1600 / 072 / 2541 October 28, 1998 Attention : President The Stock Exchange of Thailand Subject : Report on Board of Directors Resolution. Pursuant to the 1998 Annual General Shareholders Meeting, held on April 27, 1998, having approved the Company to issue unsecured and unsubordinated debentures in Baht currency and/or foreign currency equivalent to the amount of not exceeding 8,000 million baht with a term of maturity not exceeeding 10 years, and approved the Board of Directors to set conditions and other details of debenture for the convenience and to be appropriate to the situation of financial market prevailing at the time of offering of such debentures. The Bangchak Petroleum Public Company Limited (BCP) board of directors meeting No. 10/1998 held on October 28, 1998 has approved the Company to issue unsecured and unsubordinated long term debentures maturity in 2-5 years, in the amount of not exceeding 4,000 million baht, to be offered by private placement. This objective is to restructure company+s loan from short term to long term. Please be informed accordingly. Yours sincerely Rabil Pornpatkul Senior Manager, Corporate Planning Office Corporate Planning Office Tel: 301-2842