SUFFERS FALLING Q1/1997 PERFORMANCE

The Bangchak Petroleum Plc (BPC) reported reviewed quarterly financial statements as follows: (in thousands) Ending March 31 Q1 1997 1996 BPC Net profit (Loss) (91,232) 377,232 EPS (baht) (0.17) 0.72 Comment : Please see details in unreviewed financail statements from public SIMS. Though its business continued extending, the lower price of grobal oil market rapidly reduced its oil price. On the orther hand, crude oil price changed lower much lower, as well as there was a lot of quantity of stockedcrude oil with high price so cost of refinery stayed at high level in Q1/1997. This resulted in falling revenues it could gain, only Bt9.062 billion or 4% down, and loss at Bt91 million.