CLARIFICATION ON SINO-THAI INCREASES 2001 PROFIT FORECAST

Our Ref : ST/2001/0351 September 25, 2001 Subject : Clarification on Sino-Thai increases 2001 profit forecast Attention : The President The Stock Exchange of Thailand According to the Bangkok Post news on 25 September 2001 referring an interview with Mr. Anutin Charnvirakul, President, about the increases of company's 2001 net profit forecast by 30% to 300 million baht. The company would like to clarify the news as the following: Company Performance for the first half of year 2001 demonstrated Revenues from construction about 1,660 Million Baht, with its gross profit margin of 13% and net profit of 142 Million Baht. Moreover, Company has several construction contracts with effective control of construction cost, making its performance target for second half of year 2001 to be the same as the first half. Currently, Sino-Thai has revenues from doutful debt (recovered) and has low interest expenses due to its debt restructured, therefore, we anticipate that Company Performance at the end of year 2001 will generates net profit about 300 Million Baht as stated above. Please be advised and disclose to investors and public. Yours sincerely ( Mr. Teeraphong Wichiranon ) Vice President Business Development Department