SET Announcements

No. MD.036 /2005 February 8, 2005 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. 1/2005 on 8 February 2005, starting from 10:00 hrs. and the meeting passed the following material resolutions: 1.Calling the Annual General Meeting of Year 2005 on April 22, 2005 at 10:00 hrs.,at Miracle Grand Hotel, 99 Vibhavadirangsit Road, Moo 4, Laksi, Donmuang, Bangkok with the following agenda: Agenda 1 To approve of the Minutes of the Annual General Meeting of Year 2004 Agenda 2 To consider the report of the Board of Directors on the performance of the Company in year 2004 and future business operation Agenda 3 To consider approving the balance sheet and the earnings statement for the year 2004 Agenda 4 To consider the allocation of profit and reserve Agenda 5 To consider approving the increase of registered capital of the Company with the condition of paying a part of dividend in form of stock dividend Agenda 6 To consider approving the amendment to Item 4 of the Memorandum of Association so as to reflect the increase of the Company's registered capital with the condition of paying a part of dividend in form of stock dividend Agenda 7 To consider paying a part of dividend in form of stock dividend Agenda 8 To consider the election of directors in place of those who retires by rotation Agenda 9 To consider the appointment of auditors and their remuneration Agenda 10 To consider the payment of Directors' remuneration for year 2004 and Meeting Fee Agenda 11 Other business (if any) 2. To close the Company's shareholder register book in order to determine the right of the shareholder to attend the Annual General Meeting of year 2005 on April 4, 2005 at 12:00 am. until the meeting is adjourned. 3. To propose the Annual General Meeting of Year 2005 to consider declaring the dividend from the operation of the Company for the last 6 months of 2004 at the rate of Baht 0.35 per share, totaling of Baht 119 million by paying cash dividend and stock dividend as follow: 3.1 Paying cash dividend at the rate of Baht 0.10 per share, totaling of Baht 34 million. 3.2 Paying stock dividend totaling of 85 million ordinary shares (with a par value of Baht 1) to the shareholders of the Company at the ratio of 4 existing shares to 1 new share, totaling of Baht 85 million, or at the rate of Baht 0.25 per share. In case that the shareholder has a fraction of shares remaining less than 4 shares, the dividend therefor would be paid in form of cash dividend instead at the rate of Baht 0.25. The dividend shall be payable to the shareholders whose names are in the Company share register book as of May 4, 2005 at 12:00 am. with the dividend payment date on May 20, 2005. Such dividend combined with the interim dividend declared at the rate of Baht 0.30 per share, equals to the total dividend declared from the 2004 operation of Baht 0.65 per share. 4.To propose the Annual General Meeting of Year 2005 to consider approving the increase of registered capital of the Company from Baht 340,000,000 (Thirty Four Hundred Million Baht) to be Baht 425,000,000 (Four Hundred Twenty Five Million Baht) by issuing capital increase of Baht 85,000,000 (Eighty Five Million Baht) consisted of 85,000,000 ordinary shares (Eighty Five Million Shares) with a par value of Baht 1 (One Baht) per share. 5.To propose the Annual General Meeting of Year 2005 to consider approving the amendment to Item 4 of the Memorandum of Association so as to reflect the increase of the Company's registered capital to be: Item4 Amount of Registered Capital 425,000,000 Baht (Four Hundred Twenty Five Million Baht) divided into 425,000,000 Shares (Four Hundred Twenty Five Million Shares) with a par value of 1 Baht (One Baht) consisted of Ordinary Shares 425,000,000 Shares (Four Hundred Twenty Five Million Shares) Preference Shares - Shares ( - ) 6.Approve the expansion of scope of duties of the Audit Committee to cover To review the correction, completeness and reliability of the operational information reporting and To review the adequacy for the safeguarding of assets, 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 February 8, 2005. Please be informed accordingly. Respectfully yours, (M.R. Supadis Diskul) Managing Director