SET Announcements

1600 / 074 / 2003 April 28 , 2003 The Stock Exchange of Thailand 62, Ratchadapisek Road, Klongtoey Bangkok 10110 Attention : President of The Stock Exchange of Thailand Subject : Filing Unreviewed Financial Statements and Business Operations' Explanation for Quarter 1, 2003 Attachment : 1. Unreviewed Financial Statements for Quarter 1 (Thai 1 Copy) 2. Unreviewed Financial Statements for Quarter 1 (English 1 Copy) According to that the Bangchak Petroleum Public Company Limited (BCP) has filed unreviewed and unaudited financial statements following the Stock Exchange of Thailand's guidelines for filing unreviewed and unaudited financial statements; The Company would like to file unreviewed financial statements for quarter 1 ending March 31, 2003 and also would like to explain reasons for the variation in business operations in accordance with the profit and loss account more than 20 percent from that of the same period of 2002 as follow : Regarding the 1st quarter's business operations in 2003, the Company's total revenues were BHT. 14,474 million and it reported the net profit of BHT. 422 million- higher than that of the same quarter in 2002 BHT. 115 million (the 2002 first quarter's net profit was BHT. 307 million). An upgrade in the Company's profit was resulted from an improved refining margin. This was caused by the continual rising oil prices in the world markets which continued from early 2003 to the beginning of March as a consequence of the prolonged strike in Venezuela together with US-Iraq war. Thus, these created demand for oil stock in the markets. Please be informed accordingly. Yours sincerely, (Kiatchai Maitriwong) Assistant Vice President, Corporate Planning Office Corporate Planning Office Tel: 0-2335-4583