SET Announcements

Date : 03/06/2003 09:58 BCP : CANCELLATION HALTING BCP STOCK TRADING TEMPORARILY 1600 / 094 / 2003 June 2, 2003 The Stock Exchange of Thailand 62, Ratchadapisek Road, Klongtoey Bangkok 10110 Attention : President of The Stock Exchange of Thailand Subject : Cancellation halting BCP stock trading temporarily Dear sir , According to the temporary halt of the Bangchak Petroleum Public Company Limited (BCP) stock trading in the second trading session (afternoon) on Monday 2nd 2003, this was meant to protect the Company stock price volatility in the market as the State Enterprise Policy Committee arranged the meeting on Monday 2nd 2003 at 2.30 p.m. to consider Re: Solution in the Bangchak Petroleum Public Company Limited (BCP)'s business operation problem and the resolution from the said meeting may have the conclusion in BCP's financial restructuring. At present, the State Enterprise Policy Committee's Meeting has already completed in which the Meeting concludes the acknowledgement of the accounting verification proceeded by A.M.T. and Associate Co.,Ltd. . Such verification confirms that the Company's accounting record is in accordance with the accounting standard and the generally accepted accounting principles. Besides, the Meeting endorses the solutions of the Corporate and Financial restructuring following the Ad-Hoc Committee chaired by Chai-Anan Samudavanija, as well as assigns the Ministry of Finance and the Ministry of Energy to further consider the detailed measures for the purpose of the Government support as to facilitate the said Company's restructuring prior to the Cabinet's approval. After the succession of the proposed restructuring, the Company's debt to equity is expected to decline to the level at 2.2 times from 4.36 times resulting in the Company's interest burden reduction. For the Corporate restructuring, the Government shall promote more agreements in business cooperation with PTT Plc. and Thaioil Co.,Ltd. Thus, the Company shall suddenly inform the detail of proposed Corporate restructuring following the State Enterprise Policy Committee's formal resolution. Therefore, the Company would like to cancel the temporary halt of BCP stock trading from the first trading session (morning) on Tuesday 3rd June 2003 onwards. Kindly cancel the halt accordingly. Yours sincerely, (Kiatchai Maitriwong) Assistant Vice President Corporate Planning Office Corporate Planning Office Tel: 0-2335-4583