SET Announcements

(Translation) No. CK-01-0000-HRL-L-0976 2 November 2001 Re: Notification of Results of Arbitral Award Review Attn. Directors and Manager of the Stock Exchange of Thailand Joint Venture BBCD (Bilfinger + Berger Bauaktiengesellschaft, Ch. Karnchang Public Company Limited and Dyckerhoff & Widmann AG) submitted the Statement of Claim to the Arbitration Institute as per Case Black No. 30/2543, demanding Expressway and Rapid Transit Authority of Thailand (Respondent) to pay increased "Fixed Cost" under the Contract for the Design and Construction of the Bang Na - Bang Pli - Bang Pakong Expressway Project, in the amount of Baht 6,254,979,470.84 inclusive of interest at the rate of 7.5 percent per annum on the principal of Baht 6,039,893,254.-. We hereby notify that the Arbitral Tribunal has granted an award requiring Expressway and Rapid Transit Authority of Thailand to make such payment to Joint Venture BBCD in the amount of Baht 3,371,446,114.- plus interest at the rate of 7.5 percent per annum on such principal from 2 November 1999 until such payment shall be made in full; and Baht 2,668,447,140.- plus interest at the rate of 7.5 percent per annum on such principal from 15 January 2000 until such payment shall be made in full. The Arbitral Award Review Committee under the Regulations of the Office of the Prime Minister has now confirmed that the award granted by the Arbitral Tribunal is legally valid. Please be informed accordingly. Very truly yours, (Mr. Anukool Tantimas) Executive Vice President : Human Resource and General Administration ________________________ ________________________ (continued) (continued) ENDNOTES 11/02/01 9:06 AM bangkok 59166 v1 [E] -2-