CLARIFICATION OF STECON'S QUARTERLY...MARCH 31, 1999

Ref. No. : A/C ST. 125/1999 May 17, 1999 To : President of the Stock Exchange of Thailand Subject : Clarification of STECON's quarterly financial statement ended March 31, 1999 Dear Sirs, We, Sino-Thai Engineering & Construction Public Company Limited, would like to clarify our quarterly financial statement ended March 31, 1999 showing net loss increasing by 125.46% from the same period of the previous year as follows: 1. The company has exchange loss of Baht 82.49 million for the first quarter ended March 31, 1999 comparing to Baht 759.96 million gain in the same period of the previous year. 2. The company has recognized loss from investment in subsidiaries and associated companies and joint ventures (equity method) of Baht 35.77 million for the first quarter ended March 31, 1999 comparing to Baht 46.97 million gain in the same period of the previous year. Please kindly be informed. Yours sincerely, (Mr.Anutin Charnvirakul) Director