SET Announcements

Ref: CK-03-0000-PO-L-0151 18 July 2003 Subject Purchasing Shares for capital increase in Bangkok Metro Company Limited Attention President The Stock Exchange of Thailand The Board of Directors Meeting No.2/2003 which was held on 9 July 2003, at 2:00 p.m., at Conference Room on 21th Floor, No.587 Viriyathavorn Building, Sutthisarn Rd., Dindaeng Subdistrict, Dindaeng district, Bangkok, passed a resolution to grant approval for the Company to purchase ordinary shares for capital increase in Bangkok Metro Company Limited, from Baht 6,500 Million to Baht 6,800 Million, by way of issuance of 3 million shares, so as to maintain the Company's shareholding ratio of 22.94 percent of the registered capital of Bangkok Metro Company Limited, representing 688,154 shares for capital increase to be additionally purchased by the Company at the par value of Baht 100 per share totaling Baht 68,815,400.- and the Company shall also invest in capital increase shares in Bangkok Metro Company Limited in respect of such shares not acquire by other shareholders, amounting to 855,923 shares at a par value of Baht 100 per share, for a total value of Baht 85,592,300.- Please be informed accordingly. Sincerely yours, (Mr. Anukool Tuntimas) Executive Vice President Human Resource and General Administration Translation Information Memorandum on Acquisition of Assets 1. Transaction Date By 18 July 2003. 2. Related Parties Ch. Karnchang Public Company Limited acquires securities in Bangkok Metro Company Limited. 3. Value and Details of Securities to Be Issued - None - 4. General Description and Details of Connected Transaction Bangkok Metro Company Limited obtains a concession from the Mass Rapid Transit Authority of Thailand (MRTA) under the Agreement for the MRTA Initial System Project, Chaloem Ratchamonkhon Line, on 1 August 2000, pursuant to which Bangkok Metro Company Limited would exclusively carry out the design, manufacture, supply, installation, testing and commissioning of the M&E Equipment so as to open the MRTA Initial System for service to the public, together with its maintenance, throughout the concession period of 25 years from the commencement of Revenue Service. At present, Bangkok Metro Company Limited has a registered capital of Baht 6,500 Million, amounting to 65 million shares at a par value of Baht 100 per share. The Company holds 14,909,994 shares, representing 22.94 percent of the registered capital of Baht 6,500 Million. Bangkok Metro Company Limited shall register its capital increase of Baht 300 Million, amounting to 3 million shares, thereby bringing its total registered capital to Baht 6,800 Million, amounting to 68 million shares. 5. Total Value of Consideration Ch. Karnchang Public Company Limited shall invest in capital increase shares in Bangkok Metro Company Limited to maintain its shareholding ratio of 22.94 percent of the registered capital, amounting to 688,154 shares at a par value of Baht 100 per share, to be paid for at the rate of 25 percent of the share value, thereby bringing the total value to Baht 17,203,850.-. The Company shall also invest in capital increase shares in Bangkok Metro Company Limited in respect of such shares not acquired by other shareholders, amounting to 855,923 shares at a par value of Baht 100 per share, to be paid for at the rate of 25 percent of the share value, thereby bringing the total value to Baht 21,398,075.-. 6. Value of Acquired Assets Ch. Karnchang Public Company Limited shall invest in capital increase shares in Bangkok Metro Company Limited to maintain its shareholding ratio of 22.94 percent of the registered capital, amounting to 688,154 shares at a par value of Baht 100 per share, for a total value of Baht 68,815,400.-. The Company shall also invest in capital increase shares in Bangkok Metro Company Limited in respect of such shares not acquired by other shareholders, amounting to 855,923 shares at a par value of Baht 100 per share, for a total value of Baht 85,592,300.-.