Report the conversion of preferred shares

Our ref: ST 010/2003/0030 October 1, 2003 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 1 Baht which increased number of preferred shares to 70,000,000 shares and currently the number of outstanding preferred shares are 40,000,000 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 19 September 2003 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 40,000,000 Shares 3.Number of ordinary shares from conversion 40,000,000 Shares 4.Number of preferred shares after conversion - 0 - Share On August 29, 2003 the company has a registered capital of Baht 1,020,000,000 with Baht 1,001,129,150 paid up capital by issuing - 980,000,000 ordinary shares at Baht 1 each, issued and paid-up 961,129,150 shares - 40,000,000 preferred shares at Baht 1 each, issued and paid-up 40,000,000 shares In this regard, we are processing the registration of the amendment of the Company's Memorandum of Association to the Business Development Department, Ministry of Commerce and the Stock Exchange of Thailand to approve to registered securities onwards. Yours Sincerely, Mrs. Ayuporn Wongkomet Executive Office Manager