REPORT ON RESOLUTION OF THE BOARD OF DIRECTORS MEETING 5/99

Our Ref : ST/1999/1136 24 December 1999 Subject : Report on Resolution of the Board of Directors Meeting No.5/1999 To : Directors and Managers of the Securities Exchange of Thailand Whereas the Board of Directors of Sino-Thai Engineering & Construction Public Company Limited convened the Board of Directors Meeting No.5/1999 during 15.40 hours 17.20 hours on December 23,1999. The company would like to report the resolutions adopted at the said meeting as follows : The Board acknowledged the resignation of Mr.Udomsak Chakreyavanich as a director. It is further resolved that the name and number of directors who can sign to bind the Company be amended and read as follows : " Mrs. Tassanee Charnvirakul, Chairman of the Board, may sign singly and affix the Company seal or any two out of these three directors Mr. Anutin Charnvirakul, Mr.Vallop Rungkijvorasathien and Mr. Masthawin Charnvirakul may sign jointly and affix the Company seal" Please be advised accordingly and disseminate the resolutions to the investors and public. Yours sincerely, Sino-Thai Engineering & Construction Public Company Limited ( Mr.Teeraphong Wichiranon ) Vice President Business Development Department