CLARIFICATION OF STECON FINANCIAL STATEMENT 3/2545

Ref. No. : A/C ST. 259 / 2002 November 30, 2002 Subject : Clarification of STECON' s financial statement ended 30 September 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 30 September 2002 which shows increase in net profit by 27% for the three month period and 32.98% for the nine month period comparing to the same period of the previous year. 1. The company recorded share of profit from investments accounted for under equity method 37.68 and 78.32 million Baht for the three month period and nine month period respectively.Where as in 2001, the company recorded share of profit (loss) from investments accounted for under equity method 11.46 and (7.79) million Baht for the three month period and nine month period respectively. 2. The company prepaid outstanding loan principal under the restructuring agreements totaling Baht 100 million in the second quarter, this prepayment caused a Baht 24.8 million reduction in the amount of the interest to be paid on the loans in the future as recorded by the company.The company therefore reversed the above amount of accrued interest to be other income. Please kindly be informed. Yours sincerely, ___________________________ (Mr.Vallop Rungkijvorasathien ) Director ___________________________ (Mr.Woraphant Chontong ) Director