SET Announcements

(Translation) No. CK-03-0000-PO-L-0223 October 22, 2003 Re: Additional Clarification on Resolutions of the Board of Directors Meeting No. 3/2003 and Delivery of Details of Warrants Attn.: President of the Stock Exchange of Thailand Enclosure: 1. Details of Warrants to Be Offered to Existing Shareholders 2. Details of Warrants for the Employee Stock Option Plan (ESOP) Ch. Karnchang Public Company Limited sent a letter notifying resolutions of the Board of Directors Meeting No. 3/2003 on October 2, 2003, whereby the details of warrants would be delivered to the Stock Exchange of Thailand at a later date. The Company would like to provide additional clarification on such resolutions of the Board of Directors Meeting No. 3/2003 in respect of such details of warrants as follows: 1. The Board of Directors resolved to approve the amendment of the Company's registered capital to increase by Baht 262,500,000.-, to accommodate the exercise of warrants allocated to the existing shareholders, directors and employees of the Company in accordance with the Meeting's resolution, therefore, the Company's registered capital after the capital increase shall amount to a total of Baht 1,312,500,000.-, divided into 1,312,500,000 ordinary shares of Baht 1 per share; 2. The Board of Directors resolved that it was deemed appropriate to issue 262,500,000 units of warrants to the existing shareholders, directors and employees, provided that 210,000,000 units shall be allocated to the existing shareholders while 52,500,000 units shall be allocated to directors and employees, and that if there are warrants remaining from the allocation to directors and employees, such remaining warrants shall be allocated to the existing shareholders. The Company hereby delivers the details of warrants to be offered to the existing shareholders and the details of warrants for the Employee Stock Option Plan (ESOP). Please be informed accordingly. Very truly yours, (Mr. Plew Trivisvavet) Managing Director