CLARIFICATION ON SELLING THE STP&I SHARES

Our Ref : ST /98/1204 September 18,1998 Subject : Clarification on the selling of STP&I Shares Attention : Director and Manager The Stock Exchange of Thailand Whereas, Sino-Thai Engineering & Construction Public Company Limited has convened a Executive Committee Meeting No.23/1998 during 9.00 hour - 10.00 hours, on September 18, 1998. The company would like to inform the SET that the following concluded resolution was adopted at the said meeting : - The Company sells the STP&I shares at 11 Baht per share for 3,500,000 shares at the total cost of 38,500,000 Baht (Thirty-Eight million Five Hundred Thousand Baht Only) to Mr. Chamni Janchai who does not have any related business with the Company in accordance with the SET Regulation. In addition, the transaction size is also not over than the calculation measurement of the SET regulation. The purpose of the selling is to utilize the money as working capital of the Company. Please be advised and disclose to investors and public. Very Truly Yours, Sino-Thai Engineering & Construction Plc. ( Mr. Woraphant Chonthong ) Senior Vice President Finance and Account