SET Announcements

No. MD. 066/2005 April 22, 2005 Re: Report of the Resolutions of Annual General Meeting of 2005 To: President The Stock Exchange of Thailand Bangkok Aviation Fuel Services Public Company Limited held the Annual General Meeting of 2005 on April 22, 2005, starting from 10:00 hrs. and the meeting passed the following resolutions: Agenda 1 Resolved to approve the minutes of the Annual General Meeting of 2004. Agenda 2 Resolved to approve the Report of the Board of Directors regarding the Performance of the Company in the Year 2004 and Future Operation Plan as proposed. Agenda 3 Resolved to approve the financial statement of the year 2004. Agenda 4 Resolved to approve the allocation of profits and reserve fund as follows: (Unit : Thousand Baht) Dividends for the year 2004 221,000 Reserve for Investment Expansion 36,350 General Reserve 36,350 Profit Carried Forward to 2005 408,503 In addition, the interim dividends have already been paid at the rate of Bht 0.30 per share, therefore, the dividends to be paid at this time shall be at the rate of Bht 0.35 per share. Agenda 5 Resolved to approve 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 as proposed. Agenda 6 Resolved to approve 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 ( - )" Agenda 7 Resolved to approve 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 follows: 1.Paying cash dividend at the rate of Baht 0.10 per share, totaling of Baht 34 million. 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 therefore would be paid in form of cash dividend instead at the rate of Baht 0.25. The dividends will be paid on May 20, 2005 to the shareholders whose names appear in the share register at 12.00 hrs. of May 4, 2005 Agenda 8 Resolved to re-appoint Mr. Tasnai Sudasna Na Ayudhaya, M.R. Supadis Diskul, Mr. Bancha Pattanaporn and Mr. Manas Leeviraphan, and appoint Mr. Aswin Kongsiri as the directors of the Company. Agenda 9 Resolved to appoint Miss Tippawan Nananuwat,auditor license No. 3459 or Miss Roongnapha Lertsuwanakul, auditor license No. 3516 or Miss Siraphorn Eua-Anantakul, auditor licence No.3844 of Ernst & Young to be the Company's auditors for the year 2005, either of whom may audit and make any comment on the Company's financial statement. In addition, the shareholders approved the annual audit fee for the year 2005 of Baht 563,500. Agenda 10 Resolved to approve the directors's remuneration for the year 2004 in the aggregate amount of Baht 6,578,500 and the meeting fee will be payable at the same rate as the previous year. Agenda 11 Other business 11.1 Resolved to acknowledge the expansion of scope of duties of the Audit Committee as follows: 1. To review the correction, completeness and reliability of the operational information reporting; 2. To review the adequacy for the safeguarding of assets; 3. 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. 11.2 Resolved to approve the name of directors whose signatures are recognized as binding the Company as follows: "Two directors from the following lists (must not be from the same group) sign together and affix the Company's seal. Group 1 Dr. Srisook Chandrangsu, Mr. Kobchai Srivilas, M.R. Supadis Diskul, Mr. Tasanai Sudasna Na Ayudhaya , Mr. Bancha Pattanaporn, Mr. Nattachak Pattamasingh Na Ayutthaya Group 2 Mr. Aswin Kongsiri, Mr. Asada Harinsuit, Mr. Danai Nanasombat, Mr. Navee Lertpanichkul, Mr. Vinai Chamlongrasdr, ACM Narongsak Sangapong" Please be informed accordingly. Respectfully yours, (M.R. Supadis Diskul) Managing Director