SET Announcements

No. Tor 5/2545 26 April 2002 Subject:Notification on Payment of Foreign Debts Prior to Maturity Date To: President The Stock Exchange of Thailand The Company would like to notify you that, pursuant to the approval given by the Company's Board of Directors resolution authorizing principles for the Management of the Company to negotiate and implement the payment of foreign debt prior to its maturity date in the amount of United States Dollar 121.5 Million and to negotiate with domestic financial institutions for obtaining certain loans to pay off such debt, The results of the negotiation with the holders of the bonds and the domestic financial institutions are as follows: 1. A meeting of the holders of the bonds was convened by the Company on 26 April 2002 to request payment of foreign debt prior to its maturity date and to reduce the debt. The meeting of the holders of the bonds passed a resolution to approve the Company paying such foreign debt in advance by reducing the total outstanding principal amount of United States Dollar 121.5 Million to United States Dollar 75.83 Million. The remaining outstanding debt of United States Dollar 45.67 Million (or approximately 2,000 million) shall be discount, rendering the Company to realize profit in the amount of such discount. 2. The Company secured loan from 5 domestic banks in the aggregate amount of Baht 1,900 Million, according to the following breakdown: 1. Krung Thai Bank Public Company Limited Baht 493 million 2. Thai Military Bank Public Company Limited Baht 493 million 3. Bankthai Public Company Limited Baht 350 million 4. Thai Farmers Bank Public Company Limited Baht 282 million 5. Bangkok Metropolitan Bank Public Company Limited Baht 282 million provided that the Company shall repay the loan within 7 years from the date of the loan, of which the payment schedules are as follows: - from years 2002 to 2007, repayment is in the amount of not less than Baht 235 Million per year - The remaining amount shall be paid within year 2008 The consequences of this foreign debt payment prior to its maturity date shall reduce the aggregate liabilities of the Company to approximately Baht 3,100 Million and shall release the Company from its foreign debt by converting such debt into Thai Baht currency loan. This will reduce the burden from currency exchange rate risks which will benefit the Company. In addition, the interest payable burden of the Company shall be decreased and will strengthen the debt to equity structure to the ratio of approximately 0.8:1.0. Please be notified accordingly. Yours sincerely, LOXLEY PUBLIC COMPANY LIMITED (Mrs. Suganya Veerakiatkij) Senior Vice President Accounting and Budgeting Department 1 2