SIGNS A SHAREHOLDER AGREEMENT

The Bangchak Petroleum Plc (BCP) reported that it has signed a Shareholder Agreement with three shareholders of Bangchak Power Co.,Ltd. After the contract signing, the ownership ratio in Bangchak Power Co. ,Ltd. of BCP, Exgo Joint Investment & Development Co.,Ltd., Energy And Infrastructure Development and Coastal Bangchak Power Co.,Ltd., will be 40%, 30% , 15% and 15% respectively. Bangchak Power Co.,Ltd. has been registered since January 31, 1996 with an initial registered capital of Bt40 million. It has a plan to raise its capital to Bt500 million for a project concering the construction of power plants under the Electricity Generating Authority of Thailand (EGAT)'s rules. After the construction, EGAT will purchase 70 meggawatts of SPP electricity. The company is accepting bids for construction and is expected to be finished in November, 1996.