CLARIFICATION OF STECON'S FINANCIAL STATEMENT ENDED JUNE,99

Ref. No. : A/C ST. 207/1999 August 16, 1999 To : President of the Stock Exchange of Thailand Subject : Clarification of STECON's financial statement ended June 30, 1999 Dear Sirs, We, Sino-Thai Engineering & Construction Public Company Limited, would like to clarify our quarterly financial statement ended June 30, 1999. For the three month period has showing net profit increasing by 107.70% and for the six month period has showing net loss increasing by 148.09% from the same period of the previous year as follows: 1. The company has exchange gain (loss) amounting to Baht 67.46 million and Baht (15.04) million for the three month period and six month period ended June 30,1999 comparing to Baht (313.01) million and Baht 446.95 million respectively in the same period of the previous year. 2. The company has recognized gain (loss) from investment in subsidiaries and associated companies and joint ventures (equity method) of Baht 9.22 million and Baht (26.55) million for the three month period and six month period ended June 30,1999 comparing to Baht (10.58) million and Baht 36.39 million respectively in the same period of the previous year. Please kindly be informed. Yours sincerely, (Mr.Anuthin Charnvirakul) Director