SET Announcements

1600 / 013 / 2000 March 19, 2001 The Stock Exchange of Thailand 62, Ratchadapisek Road, Klongtoey Bangkok 10110 Attention : Vice President of the Listing Department Subject : Report on the Board of Directors Resolutions. Dear sir , The Bangchak Petroleum Public Company Limited would like to Report on the Board of Directors Resolutions at the meeting #3/2001 as follow : 1. To propose to the meeting to approve the amendment of the Company's objective by adding the following wordings to the end of Clause (9) : " (9) To negotiate, to guarantee and to enter into any legal agreement with the government, government agencies and government organizations, which shall be for the benefit of the Company's business operations. This includes to place bail and bond to guarantee the accused or the defendants of legal proceedings at the stages of official investigation, the public prosecutor examination and in the court of justice." 2. To grant approval for the Company to issue subordinated debentures, unsecured and unsubordinated debentures in Baht currency with maturity term of not exceeding 10 years, and/or in foreign currency in the amount equivalent to not over Baht 6,000 million. In the case of short-term debentures of less than 270 days term that have been issued and later redeemed, the Company can re-issue new short-term debentures which can be offered to the general public and/or as private placement and/or to foreign institution investors. The offer may be made in total amount or severally in partial amounts, in domestic or foreign countries. The conditions and details of the debentures, such as amount, currency of issued debenture, par value, offered price per unit, interest rate, right of redemption prior to maturity, period of time for offering, method of allocation of debentures and other details will be in the discretion of the Board of Directors to set forth and to change such conditions in debentures for convenience and appropriateness with the situation of prevailing financial market at the time of the offering. 3. To propose to the Meeting to approve the 2001 Annual General Shareholders Meeting on Monday April 18, 2001 at 1.00 p.m. and to consider the agenda for the meeting as follow : 1. To consider and adopt the Minutes of the 2000 Annual General Shareholders Meeting. 2. The Board of Directors to report on the Company's operating performance in 2000 for acknowledgement. 3. To consider and approve the Balance Sheet and the Statement of Income for the year-ended December 31, 2000 and the Auditors' Report. 4. To consider and approve the appropriation of profit and the distribution of dividend from the operating result of fiscal year 2000 5. To elect new Directors to replace those who retire upon the expiration of their term of office, and to consider the remuneration for the directors. 6. To consider the appointment and fix the remuneration for the Auditors. 7. To consider and further approve the Company's objectives. 8. To consider and approve the Company to issue debentures of amounts not exceeding Baht 6,000 million 9. To consider other business, if any. For this, the Company has established the closing time of its share register for the right to attend the General Shareholders Meeting from April 2, 2001 at 12.00 a.m. to until the meeting ends. As for the payment of dividend for the year 2000, the Company has a net loss of Baht. 1,565 Million at the end of 2000. Furthermore, the Company still has an accumulated loss in Retained Earnings of Baht. 5,295 Million., which according to the law and the Article of Association, no dividend will be paid this year. Yours sincerely, (Mr. Pisespong Sasanavin) Manager of Corporate Planning Office Corporate Planning Office Tel : 301-2842