Report on the Exercise of Warrants No.4/2003

Ref: ST/010/2004/0003 January 5, 2004 Re: Report on the Exercise of Warrants No.4/2003 To: The President The Stock Exchange of Thailand Sino-Thai Engineering & Construction Public Company Limited would like to report the exercise of warrants (STECON-W) no.4 on December 30, 2003 As per following details: - Exercising ratio: 1 unit of warrant per 1 ordinary share - Exercising price: Baht 1 per share - Ordinary shares reserved to support the exercise: 11,831,850 shares - No. of warrant holders exercise: 52 - No. of warrants being exercised: 3,469,200 units - Ordinary shares resulted from the exercise: 3,469,200 shares - Money received from the exercise: Baht 3,469,200 - Total remaining warrants listed in the Stock Exchange of Thailand: 8,362,650 units Please be informed accordingly. Yours sincerely, Ms. Ayuporn Wongkomet (AVP.) Executive Office