TO ISSUE UNSECURE NAME-SPECIFIED DEBENTURES

The Bangchak Petroleum Plc. (BCP) reported that it board of directors resolved at the meeting no. 3/1997 to have BCP issue unsecure name- specified debentures in Baht and/or foreign currency worth equivalent to not more than Bt5 billion. The debentures are to be due within 10 years, and will be offered to general public and/or via a private placement and /or to foreign institutional investors. The offering may either be done in a single shot or many, and either in the local and/or foreign markets. The rules, terms, and details of these debentures, such as the currency, face value, offering price/unit, coupon rate, put option, offering period, offering methods, and other details will be under the consideration of the company's board of directors. The board has the authority to work out and amend the rules and terms of these debentures to facilitate offering and to suit the money market circumstance in the offering period. Translated by The Nation