SET Announcements

(Translation) 1600 / 033 / 2542 April 28, 1999 The Stock Exchange of Thailand 62, Ratchadapisek Road, Klongtoey Bangkok 10110 Attention : President of The Stock Exchange of Thailand Subject : The 1999 Annual General Shareholders Meeting Resolutions. Dear sir , The Bangchak Petroleum Public Company Limited held its 1999 Annual General Shareholders Meeting on April 28, 1999 at 1.00 p.m., at the Meeting Room of Building 4, Bangchak Refinery, 210 Sukhumvit 64 Road, Phrakanong, Bangkok. We wish to inform the resolutions of this meeting as follows : 1.Certified the Minutes of the 1998 Annual General Shareholders Meeting. 2.Acknowledged the Report on Company's operating performance in 1998. 3.Approved the Balance Sheet, the Statement of Income and Auditors'Report for the year ended December 31, 1998. 4.Due to the accumulated losses incurred from the floatation of the Thai Baht in 1997, the dividend payment for 1998 has therefore been exempted. 5.Elected Mr. Somchai Richupan, Mr. Sommai Phasee, Mr. Piyasvasti Amranand and Mr. Sophon Suphapong as directors; and set forth the directors to jointly sign with the President, together with the affixed company seal to effectively binding the company, according to the provisions in the Articles of Association of the Company. 6.Appointed the Office of the Auditor General as the Company's auditors for the fiscal year 1999 and fixed its remuneration in the amount of Baht 400,000 per annum. 7 Approved the adding of the Companys objective in the Memorandum of Association Section 20 as follows : Section 20 : To accept the mortgage of assets as collateral in providing financial support in connection with the petroleum business.To receive as security for the repayment of debt, the mortgage of land, building, including structures and other equipment, which the company had financially supported the dealers in the construction of service stations, or to accept the mortgage of assets used in the fuel transportation business as collateral for the repayment of debts arising from the companys prepayment of oil transportation services. The aforementioned objectives will not be applied as the companys normal course of business nor will they be used by the company for the purpose of operating a credit foncier. Please be informed accordingly. Yours sincerely, (Mr. Rabil Pornpatkul) Senior Manager, Corporate Planning Office Corporate Planning Office Tel : 301-2842