SET Announcements

Ref: CK-01-0000-AFD-L-129 February 28, 2001 Attention : President The Stock Exchange of Thailand Subject : Declaration of the Operating Result of the Year Ended December 31, 2000, compared with the year ended December 31, 1999 The operating result of CH.Karnchang Public Company Limited, Subsidiaries and Joint Venture for the year ended December 31, 2000 presented decreased net loss 84.71%, respectively, compared with the previous period due to the following factors. 1) The Company has loss from adjustment of asset value according to International Accounting Standard No. 36 "Impairment of Assets" in 1999. Whereas the Company has no the adjustment of asset value in 2000. 2) Since the construction Bangna-Chonburi Expressway Project has been completed and submitted to ETA on February 2000. As a result, the fixed cost of this project has been dropped dramatically, and reflected to the loss decreasing. 3) The Second Stage Expressway has been completed and submitted to ETA in the first quarter 2000. As a result, the interest expense of this project has been decreased from last year. For your consideration. Sincerely yours, (Mr.Plew Trivisvavet) (Mr.Narong Sangsuriya) Directors