SET Announcements

1600 / 006 / 2003 January 15, 2003 The Stock Exchange of Thailand 62, Ratchadapisek Road, Klongtoey Bangkok 10110 Attention : President of The Stock Exchange of Thailand Subject : BCP's short-term Baht loan guaranteed by the Ministry of Finance Dear sir , The Bangchak Petroleum Public Company Limited (BCP) would like to clarify the Government Cabinet's resolution on January 14, 2003 that the Cabinet approved BCP's short-term baht loan funded and guaranteed by the Ministry of Finance totaling US. 35 million or equivalent to BHT. 1,500 million as to repay the Company's Euro Commercial Paper (ECP). The ECP, due on January 31, 2003, was further borrowed from the Ministry of Finance for refinancing the International Bank for Reconstruction and Development (IBRD) loan. In this, Krung Thai Bank (KTB) has welcome to provide the said short-term loan with the interest rate equaling to the last interest rate of the treasury bill having the same term with the Company's short-term loan (6 months with the average interest rate around 1.7 percent), and also welcome to rollover this loan until refinance by long-term loan is made. According to this loan refinance from ECP, the Company is able to reduce its interest expenses to stay at 1.7 percent comparing to IBRD loan with the interest rate 7.51 percent advantageous for BCP's saving BHT. 42 million. Please be informed accordingly. Yours sincerely, (Mr. Chokchai Atsawarangsalit) Planning and Corporate Analysis Division Manager, Corporate Planning Office Corporate Planning Office Tel: 0-2335-4583