Clarify on bidding of Airport Rail Link project

ST. 010/2004/0075 December 9th, 2004 Subject: Clarify on bidding of Airport Rail Link project Attention: The President The Stock Exchange of Thailand Sino-Thai Engineering & Construction Public Company Limited (STEC) would like to clarify our bidding information about Airport Rail Link project. According to the submitted bidding result that has been formally revealed to the public on 8th December 2004, the company presented the lowest bid for construction work amounted to 25,917,000,000 Baht (exclude cost of financing). We would like to inform that the company will still have to be considered for project financing package such as financial arranging fee, interests, etc. If the company has any further information, we will inform you for your acknowledgement and dissemination to the public and other investors. Please be informed accordingly. Yours sincerely Mr. Woraphant Chontong SVP. Financial and Accounting Division