SET Announcements

MD.047/2003 May 7, 2003 Re:Notification of the budget for construction of aviation fuel depot and appointment of a new director To:President The Stock Exchange of Thailand Bangkok Aviation Fuel Services Public Company Limited held the Board of Directors Meeting No.2/2003 on 7 May 2003, starting from 14:00 hrs. and the meeting passed the following material resolutions: 1.The Meeting resolved to approve the Financial Statement for Quarter 1/2003 as proposed. 2.The Meeting resolved to approve the Premium on Combined User Fee (CUF) chargeable to a new user at Bangkok International Airport (Donmuang) at the rate of 0.46 USC/USG until the opening of Suvarnabhumi Airport and the discontinuation of the service at Bangkok International Airport (Donmuang). In the case of Suvarnabhumi Airport, the Company shall consider fixing a new Premium rate for the user who did not hold the shares in the Company as at the registration of the Company; and the Company shall not charge any Premium to the first three users, holding consecutively no less than 2% of the total shares in the Company before and after the commencement of the Company's commercial operation at Suvarnabhumi Airport for so long as such user maintain at least 2% shareholding in the Company. 3.The Meeting resolved to approve the budget for construction of aviation fuel depot and truck loading facilities and relevant works in the amount of Baht 1,674,439,181 (exclusive of VAT) and office building including hardware and office supply in the amount of Baht 124,800,000 (exclusive of VAT) amounting to a total budget of Baht 1,799,239,181 and to approve the process of selection of contractor by way of open bid and to proceed with the final stage of the bid by electronic auction. 4.The Meeting resolved to appoint General Somchai Somprasong to be the director in succession of Mr. Virasak Tokakuna, with immediate effect. 5.The Meeting resolved to appoint Mr. Piyasawasdi Amaranant to be a member of the Remuneration Committee in succession of Mr. Virasak Tokakuna, who resigned from the Board of Director; and to appoint Mr. Chaimarch Srinang to act as a member of the Remuneration Committee in place of Managing Director, only to the extent of the consideration of the compensation of Managing Director, to be nominated by the Nominating Committee. Please be informed accordingly. Respectfully yours, (M.R. Supadis Diskul) Managing Director