CONVERSION OF THE PREFERRED SHARED INTO THE ORDINARY SHARES

Our ref: ST/2002/0212 29 April 2002 Subject : Report the conversion of the preferred shares into the ordinary shares. To : Director and President The Securities Exchange of Thailand Sino - Thai Engineering and Construction Public Company Limited would like to inform that according to the shareholder extraordinary meeting no.1/1987 passed the resolution approving the increase of the registered capital of the Company from Baht 30,000,000 to Baht 100,000,000 by the issuance of 700,000 new preferred shares with a par value of Baht 100 each, and later on the par value has been changed to 10 Baht which increased number of preferred shares to 7,000,000 shares. According to the Company's Article of Association, the preferred shares can be converted to ordinary shares at the ratio of 1 to 1. The company would like to report that on 29 March 2002, the preferred shareholder exercised his right to convert preferred shares to ordinary shares details as follows; 1.Number of holders who exercised their right 1 Person 2.Number of preferred shares converted 3,000,000 Shares 3.Number of ordinary shares from conversion 3,000,000 Shares 4.Number of preferred shares after conversion 4,000,000Shares On February 14, 2002 the company has a registered capital of Baht 1,020,000,000 with Baht 850,000,000 paid up capital by issuing - 95,000,000 ordinary shares at Baht 10 each, issued and paid-up 87,000,000 shares - 7,000,000 preferred shares at Baht 10 each, issued and paid-up 7,000,000 shares In this regard, we are processing the registration of the amendment of the Company's Memorandum of Association to the Commercial Registration Department, Ministry of Commerce and the Stock Exchange of Thailand to approve to registered securities onwards. Yours Sincerely, Mrs. Ayuporn Wongkomet Executive Office Manager