TO EXPLAIN THE FINANCIAL STATEMENT (REVISED)

Ref. No. : A/C ST. 058/1999 March 3, 1999 To : President of the Stock Exchange of Thailand Subject : Clarification of STECON's yearly financial statement ended December 31 , 1998 Dear Sirs, We, Sino-Thai Engineering & Construction Public Company Limited, would like to clarify our yearly financial statement ended December 31,1998 showing net profit increasing by 113.54% from the same period of the previous year as follows: 1. The company had exchange gain of Baht 954.87 million for the year ended December 31,1998 comparing to Baht (1,917.35) million loss in the same period of the previous year. 2. The company has recognized loss on current marketable securities of Baht 94.52 million for the year ended December 31,1998 comparing to Baht 364.24 million loss in the same period of the previous year. Please kindly be informed. Yours sincerely, (Dr. Udomsak Chakreyavanich) Director