SET Announcements

1600 / 015 / 2002 March 21, 2002 The Stock Exchange of Thailand 62, Ratchadapisek Road, Klongtoey Bangkok 10110 Attention : Vice President of the Listing Department Subject : Report on the Board of Directors Resolutions issuing the debentures, No dividend and shareholder meeting . Dear sir , The Bangchak Petroleum Public Company Limited would like to eport on the Board of Directors Resolutions at the meeting #3/2002 held on March 21, 2002 as follow : 1. To propose to the meeting to approve the addition of the Company's Articles of Association. 2. To grant approval for the Company to issue subordinated debentures, unsecured and unsubordinated debentures in Baht currency with maturity term of not exceeding 10 years, and/or in foreign currency in the amount equivalent to not over Baht 9,000 million. In the case of short-term debentures of less than 270 days term that have been issued and later redeemed, the Company can re-issue new short-term debentures which can be offered to the general public and/or as private placement and/or to foreign institution investors. The offer may be made in total amount or severally in partial amounts, in domestic or foreign countries. The conditions and details of the debentures, such as amount, currency of issued debenture, par value, offered price per unit, interest rate, right of redemption prior to aturity, period of time for offering, method of allocation of debentures and other details will be in the discretion of the Board of Directors to set forth and to change such conditions in debentures for convenience and appropriateness with the situation of prevailing financial market at the time of the offering. 3. To propose to the Meeting to approve the 2002 Annual General Shareholders Meeting on Thursday April 25, 2002 at 1.30 p.m. and to consider the agenda for the meeting as follow : 1. To consider and adopt the Minutes of the Extraordinary Shareholders Meeting No.1/2001. 2. The Board of Directors to report on the Company's operating performance in 2001 for acknowledgement. 3. To consider and approve the Balance Sheet and the Statement of Income for the year-ended December 31, 2001 and the Auditors' Report. 4. To consider and approve the appropriation of profit and the distribution of dividend from the operating result of fiscal year 2001. 5. To elect new Directors to replace those who retire upon the expiration of their term of office, and to consider the remuneration for the directors. 6. To consider the appointment and fix the remuneration for the Auditors. 7. To consider and approve the addition of Company's Articles of Association. 8. To consider and approve the Company to issue debentures of amounts Baht 9,000 million. 9. To consider other business, if any. For this, the Company has established the closing time of its share register for the right to attend the General Shareholders Meeting from April 5, 2002 at 12.00 a.m. to until the meeting ends. As for the payment of dividend for the year 2001, the Company has a net loss of Baht. 2,987 Million at the end of 2001. Furthermore, the Company still has an accumulated loss in Retained Earnings of Baht. 8,354 Million., which according to the law and the Articles of Association, no dividend will be paid this year. Yours sincerely, (Mr. Chokchai Atsawarangsalit) Corporate Planning Manager (Acting) Corporate Planning Office Tel: 0-2335-4583