Report of the Debenture without Security

Ref: ST/2003/0317 August 27, 2003 Subject : Report on Resolutions adopted at the Board of Directors Meeting No. 3/2003 Attention : Directors and Manager of the Stock Exchange of Thailand Whereas, the Board of Directors of Sino-Thai Engineering & Construction Public Company Limited convened the Board of Directors Meeting No. 3/2003 on August 27, 2003. The Company would like to report the resolutions adopted at the said meeting as follows: 1. Approval in Principle on the issuance of debenture without security amounting to Baht 500,000,000 with an interest of 4% per annum, with redemption period of not more than 5 years. The said debenture will be issued to specific persons under private placement arrangement. The Executive has been authorized to determine conditions and details of debenture and propose them to the shareholders at the Extraordinary Meeting of Shareholders accordingly. 2. Convening the Extraordinary Meeting of Shareholders No. 1/2003 and to close the Company's share register book as follows: The Extraordinary Meeting of Shareholders No. 1/2003 will be convened at 10.00 hours, on October 1, 2003 at the Company's conference room No. 32/60 Sino-Thai Tower, 30th Floor, Sukhumvit 21 Road (Soi Asoke), Kwaeng Klongtoey Nua, Khet Wattana, Bangkok. The matters to be transacted at the meeting are:- (1) To consider the issuance of debenture which are to be sold under private placement. (2) Other business (if any). The Company will close the Share Register Book on September 12, 2003 at 12.00 hours until the meeting is adjourned. Eligible shareholders may exercise their right to attend the Extraordinary Meeting of Shareholders. We therefore, inform you of the above for your acknowledgment and dissemination to the public and other investors. Sincerely yours, Sino-Thai Engineering & Construction Plc. (Mr. Anutin Charnvirakul) Director