REPORT OF THE RESOLUTIONS OF THE BOARD OF DIRECTORS MEETING

Our Ref : ST/2001/0014 January 10, 2001 Subject : Report of the Resolutions of the Board of Directors Meeting No. 1/2001 Attention : The President The Stock Exchange of Thailand Whereas, the Board of Directors of Sino-Thai Engineering & Construction Public Company Limited convened the Board of Directors Meeting No. 1/2001 during 15.00 hours 17.15 hours on January 10, 2001. The Company hereby reports the resolutions adopted at the said meeting as follows: The Board acknowledged the appointment of 6 directors, the name listed below, as the additional members of the Board of Directors of the Company. The new directors are qualified and nominated by the creditors who subscribed the newly issue shares to increase the Companys capital: 1. Mr. Chavarat Charnvirakul 2. Mr. Woraphan Chontong 3. Ms. Anilrat Charnvirakul 4. Mr. Tanathip Witthayasirinan 5. Mr. Dol Wattanasri 6. Police General Sanong Wattanawarangkul Thus, the Board resolved that the appointment of new directors and the change of names of director who can sign for the company shall be proposed to consider at the extraordinary meeting of shareholders. Therefore, the Board shall convene the Extraordinary Meeting of Shareholders No. 1/2001 and to fix the date to close the Companys share register book as follows: 1. The Extraordinary Meeting of Shareholders No. 1/2001 will be convened at 10.00 hours, on February 12, 2001. The place of the meeting shall be subsequently notified to the shareholders. Details of an agenda are as follows: (1) To consider appointing new directors. (2) To consider changing the authority of directors. (3) To consider amending clause 23 of the Articles of Association. (4) Other business (if any). 2. The Company will close the Share Register Book on January 26, 2001 at 1200 hours until the meeting is completed. Eligible shareholders may exercise their rights to attend the Extraordinary Meeting of Shareholders. It is, therefore, informed for your acknowledgement and dissemination to the public and other investors Yours sincerely, Sino-Thai Engineering & Construction Public Company Limited (Mr. Anutin Charnvirakul) President