SET Announcements

No. MD.078 /2005 May 13, 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. 2/2005 on 13 May 2005, starting from 8.30 hrs. and the meeting passed the following material resolutions: 1. Approve the Financial Statement for Quarter 1/2005 as proposed. 2. Reappoint Mr. Manas Leeviraphan as the independent director of the Company and appoint Dr. Srisook Chandransu, the Chairman of the Company, and Mr. Aswin Kongsiri as additional independent directors of the Company. In order to increase the independent directors of the Company to be 5 persons or not less than one-third of the total directors, complying with the Principles of Good Corporate Governance of the Stock Exchange of Thailand. 3. Appoint Mr. Aswin Kongsiri as Committee Member and Chairman of the Risk Management Committee in succession of General Somchai Somprasong that was retired by rotation. 4. Approve the decrease of the rental charge for receiving pipeline system for Fuel Pipeline Transportation Limited (FPT) to be 21.50% of FPT's revenue from JET A-1 transporting, effective from March 1, 2005. 5. Approve to enter into the Guarantee Agreement for Long term loan of 120 million Baht and Promissary Note loan of 20 million Baht to JP-One Assets Co., Ltd., in according to the Company's shareholding portion of 50%. The transactions in no.4 and no.5 above are not the connected transaction according to the SET's Rules and Regulations. Please be informed accordingly. Respectfully yours, (M.R. Supadis Diskul) Managing Director