SET Announcements

MD.071/2003 July 28, 2003 Re: Report on the use of proceeds from capital increase To: President The Stock Exchange of Thailand Regarding Bangkok Aviation Fuel Services PLC. offered 9,000,000 capital increase of ordinary shares, which were allocated to the general public at the price of Baht 60, the total proceeds derived from capital increase were Baht 540 million that the company had an objective to utilize those proceeds through the investments in Thai Aviation Refueling Company Limited (TARCO) of Baht 107.75 million and Depot for New Bangkok International Airport (Suvarnabhumi Airport) of 432.25 million. The company would like to report to the Stock Exchange of Thailand that the proceeds from capital increase of Baht 281.95 million has already been utilized for the above projects by Baht 20 million and 261.95 million, respectively, during April 4, 2002 to June 30, 2003. The company would like to inform that there is no delay in the above investments. However, the proceeds from the capital increase have been utilized in line with the progress of New Bangkok International Airport. Yours sincerely, (Mr. Chathaya Bandhaya) Finance and Account Manager