SET Announcements

(F 53-4) -Translation- Capital Increase Report Form Bangkok Aviation Fuel Services Public Company Limited February 8, 2005 We Bangkok Aviation Fuel Services Public Company Limited hereby report of the resolution of the board of directors no.1/2005, held on February 8, 2005 from 10:00 to 12.00 hours. in respect of a capital increase/share allotment as follows: 1.Capital increase: The meeting of the board of directors passed a resolution approving the increase of a registered capital of the Company from 340 million Baht to 425 million Baht by means of the issuance of 85,000,000 ordinary shares with a par value of 1 Baht each, totaling 85 million Baht. 2. Allotment of new shares: 2.1 The meeting of the board of directors passed a resolution approving the allotment of 85,000,000 ordinary shares with par value of 1 Baht each, totaling 85 million Baht, the details of which are as follows: Allotted to ExistingShareholders Number(shares) 85,000,000 Ratio(old : new) 4:1 Sale price per share (Baht) - Subscription and payment period - Note: The shares shall be allocated for stock dividend payment* *The shares are allocated as share dividend payment to the existing shareholders whereby the closing date of shareholder register book suspending any transfer of shares to determined and identify the shareholders' right to receive dividend be commenced on May 4, 2005 from 12.00 hours. 2.2 The Company's plan in case where there is a fraction of shares remaining In case any 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 per share. 2.3 The number of shares remaining from the allotment is -none- shares with par value of - Baht each, totaling - million Baht. 3.Schedule for shareholders meeting to approve the capital increase/ allotment The ordinary meeting of shareholders no. 1/2005 is scheduled to be held on April 22, 2005 at 10:00 hours. at Miracle Grand Hotel. The share register will be closed for share transfer in order to determine the right to attend this meeting from April 4, 2005 at 12.00 o'clock, until the meeting has been duly convened. 4.Approval of the capital increase/share allotment by relevant governmental agency and conditions thereto (if any) -None- 5.Objectives of the capital increase and plans for utilizing proceeds received from the capital increase 5.1 To reserve for the allocation of newly issued ordinary shares to the existing shareholders; 5.2 To increase the number of the Company's shares thereby making additional trading liquidity of the Company's shares in the SET; 5.3 To maintain the Company's financial liquidity by way of issuing share dividend instead of case dividend. 6.Benefits which the Company will receive from the capital increase/share allotment: 6.1 Remaining cash flows for internal liquidity management 6.2 Increasing paid-up capital to maintain stable financial status 7.Benefits which the shareholders will receive from the capital increase/ share allotment: 7.1 Dividend policy: At least 50% of net profit after tax and legal reserve 7.2 The persons who receive the allotment of these newly issued shares will be entitled to receive dividends in equivalent to those of the Company's existing shares in the following allocation of dividends in case the Company is to make dividend payment 7.3 Others : -None- 8.Other details necessary for shareholders to approve the capital increase/ share allotment: -None- 9.Schedule of action where the board of directors of the Company passes a resolution approving the capital increase or allotment of new shares: See attachment. The Company hereby certifies that the information contained in this report form is true and complete in all respects. Signed_______________authorized director (Mr. Vinai Chamlongrasdr) Position Director Signed_______________authorized director (M.R.Supadis Diskul) Position Managing Director Attachment Timetable Procedure 1) Board of directors meeting and notification of the resolutions to the SET Date: Feb 8, 2005 2) Closing the shareholders register book suspending any transfer of shares to determined and identify the shareholders' right to attend the Annual General Meeting of the shareholders No. 1/2005 Date: April 4, 2005 3) The Annual General Meeting of the shareholders No. 1/2005 held and notification of the meeting's resolutions to the SET Date: April 22, 2005 4) The closing date of the shareholder register book suspending any transfer of shares to determine the right to receive dividends (and share dividends) Date : May 4, 2005