CLARIFICATION OF STECON'S FINANCIAL STATEMENT -31-03-02

Ref. No. : A/C ST. 170/ 2002 10 May 2002 Subject : Clarification of STECON' s financial statement ended 31 March 2002. To : President of the Stock Exchange of Thailand Dear Sirs, We, Sino-Thai Engineering & Construction Public Company Limited, would like to provide the clarification on our quarterly financial statement ended 31 March 2002. Net profit increased 46.29% from the same period of the previous year due to the following reasons : 1. For the 1st quarter of 2002, the company had gross profit margin of 13.72% comparing to 12.03% in the same period of the previous year due to better profit margin on the current projects.2. For the 1st quarter of 2002, the company recorded share of profit from investments accounted for under equity method 28.33 million Baht. Where as in the same period of the previous year, the company recorded share of loss from investments accounted for under equity method 17.27 million Baht. Please kindly be informed. Yours sincerely, ___________________________ (Mr. Vallop Rungkijvorasathien) Director ___________________________ (Mr. Woraphant Chontong) Director