CLARIFICATION ON THE BUYING OF HTR CORP.LIMITED

Our Ref : ST/2002/0028 January 15, 2002 Subject : Clarification on the buying of HTR Corp. Ltd Attention : The President The Stock Exchange of Thailand Attachments : - The HTR shareholders' structure - Transaction size calculation Whereas Sino-Thai Engineering & Construction Public Company Limited "STECON" has bought HTR Corp. Ltd. shares from Amarin Plaza Public Company Limited for 7,350,000 shares amounted 45,000,000 Baht (Forty-five million baht) on January 15, 2002. From this transaction, STECON share holding in HTR Corp. Ltd. shall increase from 66.20% to 80.90% of HTR paid up capital. The HTR Corp. Ltd. is STECON Subsidiary Company, focus on Property Development, with registered capital Baht 500,000,000. The buying of HTR shares will result in STECON being a major shareholder which enable the company to have full control over HTR and also contribute to smoother management and more flexible operation. This, in turn, will maximize the shareholders' benefits. We advise that the transaction size is not in case of related transaction and the listed company's acquisition of asset according to the SET Regulation. Please be advised and further kindly disclose the above to investors and public. Very Truly Yours, (Mr. Woraphant Chonthong) Senior Vice President Finance and Account The HTR shareholders' structure Shareholders' structure prior to STECON share purchase Shareholder % No. of shares Sino-Thai Group 66.20% 33,100,000 NFS Group 19.10% 9,550,000 Amarin Group 14.70% 7,350,000 Total 100% 50,000,000 Shareholders' structure after STECON share purchase Shareholder % No. of shares Sino-Thai Group 80.90% 40,450,000 NFS Group 19.10% 9,550,000 Total 100% 50,000,000