SET Announcements

1600 / 206 / 2003 December 17, 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 and the summary of the Cabinet's resolutions concerning the issuance of the Depository Receipt (DR) Dear sir , According to the temporary halt of the Bangchak Petroleum Public Company Limited (BCP) stock trading in the second trading session (afternoon) on Tuesday 16th 2003, this was meant to protect the Company stock price volatility in the market as the Cabinet had considered the additional solutions in the Bangchak Petroleum Public Company Limited (BCP)'s financial restructuring, besides the DR issuance of common share amounting Baht 3,000 million and convertible debenture amounting Baht 4,000 million. At present, the Cabinet Meeting already completed, in which the Meeting has the resolutions concerning the issuance of DR of the Company as follows : 1. Approve the Ministry of Finance and PTT Public Co., Ltd. to swap their BCP's common shares to DR at the rate of no less than 10 : 5. 2. Offer the other shareholders (other than 1.), to swap their common shares to DR at the rate of 10 : 7 to 10 : 9. The Company will reduce the numbers of common share outstanding by canceling the exceeding common shares from the swap of the common share to DR as 1. and 2. after the completion of the financial restructuring. In addition, all DR will receive the capital protected for the initial capital issued from the Ministry of Finance. According to such Cabinet's resolutions, the Company expects that the total numbers of common shares after the completion of the financial restructuring will be approximately 600 million shares. Moreover, the Company will quote the issue price of DR on January 2004, which expects to be close to the existing price of the BCP's common share at present. Therefore, the Company would like to cancel the temporary halt of BCP stock trading from the first trading session (morning) on Wednesday 17th December 2003 onwards. Kindly cancel the halt accordingly. Yours sincerely, (Watcharapong Saisuk) Assistant Vice President Corporate Planning Office Corporate Planning Office Tel: 0-2335-4583