CLARIFICATION OF STECON'S F/S ENDED DEC. 31, 1999

Ref. No. : A/C ST. 072 / 2000 March 1, 2000 To : President of the Stock Exchange of Thailand Subject : Clarification of Stecon' s financial statement ended December 31, 1999 Dear Sirs, We, Sino-Thai Engineering & Construction Public Company Limited, would like to clarify our yearly financial statement ended December 31, 1999 showing net profit increasing by 388.81% from the same period of the pervious year as follows : 1. The company has exchange gain (loss) of Baht (76.57) million for the year ended December 31,1999 comparing to Baht 954.87 million gain (loss) in the some period of the previous year. 2. The company has recognized loss from investments in subsidiaries and associated companies (equity method) of Baht 289.58 million for the year ended December 31, 1999 comparing to Baht 5.45 million loss in the same period of the pervious year. 3. The company has selling and administrative expenses of Baht 495.64 million for the year ended December 31, 1999 comparing to Baht 355.78 million in the same period of the previous year. The increasing selling and administrative expenses mostly incurred from Excess of cost over book value of investment in subsidiary company written off to Baht 62.13 million and loss on impairment in other investments to Baht 81.76 million. Please kindly be informed. Yours sincerely, ___________________________ ____________________________ (Mr. Anuthin Charnvirakul) (Mr. Vallop Rungkijvorasathion) Authorized Signatory Authorized Signatory