SET Announcements

(Translation) No. CK-02-0000-AFD-L-0588 14 October 2002 Re:Accounting of Ch. Karnchang Public Company Limited DearPresident of the Stock Exchange of Thailand, Referring to the news regarding the problems of accounting of Ch. Karnchang Public Company Limited, the Company wishes to explain that the accounts of the Company have been prepared in accordance with the Accountancy Act and the Revenue Code as well as the generally accepted accounting principles of the Institute of Certified Public Accountants and Auditors of Thailand, and regulations of the Stock Exchange of Thailand. In this respect, the Company appointed Ernst & Young Company Limited as auditor of the Company and such audit has been approved by the Audit Committee. The Company hereby confirms that the Company has been operating its commercial activities and businesses properly and in compliance with the provisions of laws of the Kingdom of Thailand in all respects. Please be informed accordingly. Very truly yours, (Mr. Prasert Marittanaporn) Executive Vice President: Accounting and Finance 10/14/2002 16:56 (2K) BANGKOK 79400 v1 [1p9k01!.DOC] -28-