REPORT ON THE USE ISSUANCE AND THE OFFERING OF ECD.

28 มกราคม 2542
Tor 3/2542 January 27, 1999 Re: Report on the use of the proceeds of the issuance and the offering of European Convertible Debentures ("ECD") Dear President The Stock Exchange of Thailand Loxley Public Company Limited, the "Company", wish to report the use of the proceeds of the issuance and the offering of ECD up to date as follows: Parts of the proceeds of the second issuance and offering of the ECD have been utilized resulting in the remaining 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.