THE PROGRESS REPORT ON COMPANY REHABILITATION PLAN

Our Ref : ST/2000/0459 October 10, 2000 Subject : The Progress Report on Company Rehabilitation Plan Attention : The President The Stock Exchange of Thailand Reference : ST/2000/0410 dated September 5, 2000 Attachments : 1) Certificate of Company and the Memorandum of Association on capital decrease 2) Certificate of Company and the Memorandum of Association on capital increase 3) Article of Association (modified) As the Central Bankruptcy Court granted the order for approval of Company Rehabilitation Plan which approved by the Creditors' Meeting, on September 4, 2000, and appointed Stecon Administrator Company Limited to be the Plan Administrator. The Company has reported the summary of Company Rehabilitation Plan and Capital Increase Report Form to the Stock Exchange of Thailand since September 5, 2000. The Company would like to report the progress on the implementation of the Plan as follow: Before the Company has finalized Capital Increase the Company has: - Submitted an application for registering of capital decrease from Baht 750,000,000 to Baht 300,000,000 - Thence, Submitted an application for registering of capital increase from Baht 300,000,000 to Baht 850,000,000 and - Registered for Modification of the Article of Association on Foreign shareholder of Company's share: Current allowance of Foreign shareholder is not more than 39% of total share Modified to not more than 49% of total share All were submitted to the Registrar of the Public Company, the Commercial Registration Department, Ministry of Commerce and has already approved. The attachments pertaining to the issue are therefore enclosed herewith for your evidence. Please be informed accordingly. Yours sincerely, (Mr. Teeraphong Wichiranon) Vice President Vice President Business Development Department