Clarification of STECON's financial statement Q3/03

Ref. No. : A/C ST. 111/2003 November 3, 2003 Subject : Clarification of STECON' s financial statement ended September 30, 2003. 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 2003 of net profit amount Baht 182.18 million which increases Baht 50.74 million equal to 38.60% for the three month period and net profit of Baht 451.43 million which increases Baht 125.40 million equal to 38.46% for the nine month period comparing to the same period of the previous year due to the following reasons: 1. The company's revenue from construction for the three month period increased Baht 372.97 million equal to 36.78% and for the nine month period increased Baht 984.55 million equal to 36.10%, which affected to gross margin increase Baht 64.03 million and Baht 111.32 million respectively. 2. For the 3rd quarter of 2003, the company recorded gain on sale of long-term investments Baht 51.83 million. Where as the same period of the previous year, the company recorded gain on sale of long-term investments Baht 3.88 million. Please kindly be informed. Yours sincerely, ___________________________ ( Mr.Anutin Charnvirakul ) Director