CLARIFICATION OF STECON'S F/S ENDED SEPTEMBER 30, 2001

Ref. No. : A/C ST. 237 / 2001 8 November 2001 Subject : Clarification of STECON' s financial statement ended 30 September 2001. To : President of the Stock Exchange of Thailand Dear Sirs, We, Sino-Thai Engineering & Construction Public Company Limited, would like to provide the clarification of our quarterly financial statement ended September 30, 2001 which showing net profit increased by 120.19% for the three month period and 117.18% for the nine month period compare to the same period of the previous year due to the following reasons : 1. The company had gross profit margin of 13.25% and 12.82% for the three-month period and the nine-month period comparing to the loss of (32.79%) and (12.18%) in the same period of the previous year due to better profit margin on the current projects. 2. The company did not have loss on currency swap contracts comparing to 155.97 million Baht loss in the nine-month period of the previous year. 3. As a result of the debt restructuring process, 3.1 The company recorded interest expense at 1.19 and 3.61 million Baht for the three-month period and nine-month period comparing to 134.14 and 455.77 million Baht in the same period of the previous year. 3.2 The company recorded gain (loss) on exchange at 0.01 and (0.4) million Baht for the three month period and nine month period comparing to (0.06) and (146.57) million Baht in the same period of the previous year Please kindly be informed. Yours sincerely, ___________________________ (Mr. Anutin Charnvirakul) Director