INFORMATION OF EXERCISE OF STECON-W

Date : 16/05/2003 13:41 STECON : INFORMATION OF EXERCISE OF STECON-W ST 010/2003/0007 May 16, 2003 Subject : Information of Exercise of STECON-W (May 2003) Attn : President Stock Exchange of Thailand (SET) We would like to inform the information of the exercise of STECON-W as follows: 1.The notification period of the exercise of STECON-W is during May 24-29,2003 at 8.30 a.m.- 3.30 p.m. 2.The exercise date will be on May 30, 2003 3.Exercise ratio : 1 warrant for 10 common share Exercise price : Baht 1.00 per share 4.Documents to be submitted : 4.1 Letter of intent to exercise the warrant (the letter of intent can be picked up at the company's office). 4.2 Warrant Certificate which has been signed as transferor by the owner or the SET Substitution Form (in case of warrant certificate is lost). 4.3 Pay the amount by check or cashier check, which can be cashed in Bangkok within 2 business days after exercise date. Make check payable to "Sino-Thai Engineering & Construction Public Company Limited". 4.4 For Natural Person : Copy of Identification Card / Copy of Passport which has been certified. For Juristic Person : Copy of Company Certificate 5.Contact Place: Sino-Thai Engineering & Construction Public Company Limited 32/59-60, Sino-Thai Tower 29th -30th Fl., Sukhumvit Soi 21 Asoke Rd., Klongtoey Nua, Wattana, Bangkok 10110 Tel: 0-2260-1321 Ext. 305, 206 Fax: 0-2259-4427 email: ir@stecon.co.th 6.Other Conditions : 6.1 The number of the certificates to be exercised shall be in the prime number. The exercise ratio is 1 warrant to 10 share of the Company according to the adjustment of exercise price and exercise ratio under clause 1.15 of the prospectus. 6.2 Where the Company does not obtain the rights warrant certificates or the replacement of rights warrant certificates in full as specified in the exercise notice and/or the Company finds that the exercise notice has been inaccurately or incompletely filled in by the holder of those certificates and/or has inadequate stamps and duties as required by relevant laws and regulations, the certificate holder shall rectify the found error. If the certificate holder fail to correct within the specified period, the Company shall deem that the notification of intention to exercise expire without any exercise and shall return the previously received payment with no interest reimbursement and the certificates to the holder by registered mail within 14 days from the day succeeding the exercise date. 6.3 When the certificate holder who wishes to exercise his/her rights has fully complied with all conditions governing the notification of intention to exercise - i.e. the certificate holder has delivered the rights warrant certificates or the replacement of rights warrant certificates and the exercise notice and payment in full, the exercise cannot be withdrawn. 6.4 When the last exercise date expires but the certificate holder has not completely complied with all conditions governing the exercise,the warrant certificates and the replacement of warrant certificates shall be deemed to expire without exercise and the certificate holder cannot exercise his/her rights again. 6.5 Please find other necessary conditions, in the prospectus Part 3. Please be informed as stated. Yours sincerely, Mr. Woraphant Chontong (SVP) Finance & Accounting Division