SET Announcements

1600 / 093 / 2002 October 4, 2002 The Stock Exchange of Thailand 62, Ratchadapisek Road, Klongtoey Bangkok 10110 Attention : President of The Stock Exchange of Thailand Subject : Clarify News Re: Finance Restructuring Alternatives for BCP Dear sir , According to the news appeared in newspaper on October 4, 2002 concerning that the Company filed the summary of McKinsey's study and National Finance's study to the Secretary of State Enterprise Policy Committee as to consider 3 alternatives of finance restructuring on this coming October 9; The Bangchak Petroleum Public Company Limited (BCP) would like to clarify that the Company hires McKinsey- business consulting firm to assess the Company's status and to study the Company's business enhancement. Besides, the Company further hires National Finance to study finance restructuring alternatives. Such hires are compliance with the Government Cabinet's resolution on October 22, 2001 stating that the State Enterprise Policy Committee is assigned to study the future Company's business operation. At present, the whole studies have already completed. Hence, the Company shall summarize to the Ministry of Finance and this, in turn, shall be further sent to the State Enterprise Policy Committee. Regarding finance restructuring, the above consultants propose 3 alternatives comprising additional government guarantees and/or capital injection. This aims to solve a front load of due loans during 2003 - 2004 and strengthening the Company's financial structure. Please be informed accordingly. Yours sincerely, (Mr. Chokchai Atsawarangsalit) Corporate Planning Manager Corporate Planning Office Tel: 0-2335-4583