REPORT ON THE USE OF THE PROCEEDS OF THE E.C.D.

02 July 1998
Tor.18/2541 June 30, 1998 Re: Report on the use of the proceeds of the issuance and the offering of European Convertible Debentures (E.C.D.) Dear President The Stock Exchange of Thailand The Company wishes to hereby report the use of the proceeds of the issuance and the offering of European Convertible Debentures (E.C.D.) Up to 30 June 1998 as follows: Parts of the proceeds of the second issuance and offering of the E.C.D. (E.C.D.2) have been utilized in April 1997 resulting in the balance of Baht 553 million. The Company has slowed down its investments and the balance has not been utilized at the moment. Sincerely Yours, Loxley Public Company Limited (Ms.Suganya Veerakiatkij) Senior Vice President Accounting & Budgeting Dept.