SET Announcements

No. MD.060 /2004 May 14, 2004 Re:Report of the Resolutions of the Board of Directors Meeting To:President The Stock Exchange of Thailand Bangkok Aviation Fuel Services Public Company Limited held the Board of Directors Meeting No. 2/2004 on 14 May 2004, starting from 10:00 hrs. and the meeting passed the following material resolutions: 1.Appoint Mr. Srisook Chandransu as the Chairman of the Board of Directors for a term of 2 years, effective from May 14, 2004. 2.Appoint Mr. Danai Nanasombat to be the director in succession of Mr. Chaimarsh Srinang, effective from May 14, 2004. 3.Appoint the following 4 persons as the Risk Management Committee with a directorship term of 3 years: 1) General Somchai Somprasong Chairman 2) Flight Lieutenant Udom Krisnampok Committee Member 3) M.R. Supadis Diskul Committee Member 4) Mr. Ditsapong Prithaveepong Committee Member and Secretary and approve the policy, charter, structure, roles and responsibilities of the Risk Management Committee as proposed including the responsibility to review the matter regarding risk management to be proposed to the Board of Director Meeting. 4.Approve the Financial Statement for Quarter 1/2004 as proposed. 5.Approve the execution of the Agreement for Delivery and Acceptance of Aviation Fuel from Aviation Fuel Depot System of the Company independently to the Hydrant System for Transportation of Aviation Fuel of Thai Aviation Refuelling Co., Ltd. at Suvarnabhumi Airport. Such Agreement is not the connected transaction according to the SET's Rules and Regulations. 6.Approve the expansion of scope of duties of the Audit Committee to cover "To review risk management and internal control systems of the Company independently to ensure the efficiency and effectiveness of risk management system and the adequacy of internal control system to manage the Company's overall risks, whereby such systems would have been updated appropriately. Furthermore, to coordinate with Risk Management Committee from time to time by exchanging knowledge and information about risk and internal control, which affect or may affect the Company", which shall be specified in the scope of duties and responsibilities in the Audit Committee Charter. 7.Approve the revision of the Audit Committee Charter according to Item 6 above, which will be effective from May 14, 2004. Please be informed accordingly. Respectfully yours, (M.R. Supadis Diskul) Managing Director