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No. MD.055/2007 April 20, 2007 Re:Report of the Resolutions of Annual General Meeting of 2007 To:President The Stock Exchange of Thailand Bangkok Aviation Fuel Services Public Company Limited held the Annual General Meeting of 2007 on April 20, 2007, starting from 10:00 hrs. and the meeting passed the following resolutions: Agenda 1 To Approve the Minutes of Annual General Meeting of 2006 Resolution The voting comprised agreed 308,846,225 votes or 99.97%; disagreed 0 votes or 0%; and abstained 100,000 votes or 0.03%. It is resolved that the Meeting by majority of the total entitled votes approved the minutes of Annual General Meeting of 2006. Agenda 2 To Consider the Report of the Board of Directors regarding the Performance of the Company in the Year 2006 and Future Operation Plan Resolution The voting comprised agreed 313,523,804 votes or 100%; disagreed 0 votes or 0%; and abstained 0 votes or 0 %. It is resolved that the Meeting by majority of the total entitled votes approved the Report of the Board of Directors regarding the Performance of the Company in the Year 2006 and Future Operation Plan as proposed. . Agenda 3 To Consider Approving the Balance Sheet and the Earnings Statement for the Year 2006 Resolution The voting comprised agreed 313,541,834 votes or 100 %; disagreed 0 votes or 0%; and abstained 0 votes or 0%. It is resolved that the Meeting by majority of the total entitled votes approved the balance sheet and earning statement for the year 2006 as proposed. Agenda 4 To Consider Allocation of Profits and Reserve Fund Resolution The voting comprised agreed 313,541,834 votes or 100%; disagreed 0 votes or 0%; and abstained 0 votes or 0%. It is resolved that the Meeting by majority of the total entitled votes approved the allocation of profits and reserve funds as proposed as follows: (Unit : Thousand Baht) Dividends for the year 2006 263,499 Reserve for Investment Expansion 46,147 General Reserve 46,147 Profit Carried Forward to 2007 576,246 In addition, the interim dividend was already paid at the rate of Bht 0.20 per share, therefore, the dividend to be paid at this time shall be at the rate of Bht 0.42 per share and will be paid on May 18, 2007 to the shareholders whose names appear in the share register at 12.00 hrs. of May 2, 2007 Agenda 5 To Consider Approving the Decrease of Registered Capital of the Company with the Condition that the Dividend Payment will be partially made by way of issuance of Ordinary Shares of the Company Resolution The voting comprised agreed 313,541,834 votes or 100%; disagreed 0 votes or 0%; and abstained 0 votes or 0%. It is resolved that the Meeting with more than three-fourths of the total entitled votes approved the decrease of registered capital of the Company by reducing the unsold authorized share capital of 1,630 ordinary shares with a par value of Baht 1 per share, resulting in the decrease in registered capital by Baht 1,630 from Baht 425,000,000 to be Baht 424,998,370 with the condition that the dividend payment will be partially made by way of issuance of ordinary shares of the company as proposed. Agenda 6 To Consider Approving the Amendment to Item 4 of the Memorandum of Association so as to Reflect the Decrease of the Company's Registered Capital with the Condition that the Dividend Payment will be partially made by way of issuance of Ordinary Shares of the Company Resolution The voting comprised agreed 313,546,834 votes or 100%; disagreed 0 votes or 0%; and abstained 0 votes or 0%. It is resolved that the Meeting with more than three-fourths of the total entitled votes approved the amendment to Item 4 of the Memorandum of Association so as to reflect the decrease of the Company's registered capital to be: Item 4 Amount of Registered Capital 424,998,370 Baht (Four Hundred Twenty Four Million Nine Hundred Ninety Eight Thousand Three Hundred Seventy Baht) divided into 424,998,370 Shares (Four Hundred Twenty Four Million Nine Hundred Ninety Eight Thousand Three Hundred Seventy Shares) with a par value of 1 Baht (One Baht) consisted of Ordinary Shares 424,998,370 Shares(Four Hundred Twenty Four Million Nine Hundred Ninety Eight Thousand Three Hundred Seventy Shares) Preference Shares-Shares( - ) with the condition that the dividend payment will be partially made by way of issuance of ordinary shares of the company as proposed. Agenda 7 To Consider Approving the Increase of Registered Capital of the Company with the Condition that the Dividend Payment will be partially made by way of issuance of Ordinary Shares of the Company Resolution The voting comprised agreed 313,546,834 votes or 100%; disagreed 0 votes or 0%; and abstained 0 votes or 0%. It is resolved that the Meeting with more than three-fourths of the total entitled votes approved the increase of registered capital of the Company from 424,998,370 to be Baht 509,998,044 by issuing new 84,999,674 ordinary shares with a par value of Baht 1 per share, amounting to Baht 84,999,674 increase of registered capital with the condition that the dividend payment will be partially made by way of issuance of ordinary shares of the company as proposed. Agenda 8 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 that the Dividend Payment will be partially made by way of issuance of Ordinary Shares of the Company Resolution The voting comprised agreed 313,554,144 votes or 100%; disagreed 0 votes or 0%; and abstained 0 votes or 0%. It is resolved that the Meeting with more than three-fourths of the total entitled votes approved the amendment to Item 4 of the Memorandum of Association so as to reflect the increase of the Company's registered capital to be: Item 4 Amount of Registered Capital 509,998,044 Baht (Five Hundred Nine Million Nine Hundred Ninety Eight Thousand Forty Four Baht) divided into 509,998,044 Shares (Five Hundred Nine Million Nine Hundred Ninety Eight Thousand Forty Four Shares) with a par value of 1 Baht (One Baht) consisted of Ordinary Shares 509,998,044 Shares (Five Hundred Nine Million Nine Hundred Ninety Eight Thousand Forty Four Shares)Preference Shares-Shares( - ) with the condition that the dividend payment will be partially made by way of issuance of ordinary shares of the company as proposed. Agenda 9 To Consider Paying Cash Dividend and Stock Dividend Resolution The voting comprised agreed 313,554,144 votes or 100%; disagreed 0 votes or 0%; and abstained 0 votes or 0%. It is resolved that the Meeting by majority of the total entitled votes approved the dividend from the operation of the Company for the last 6 months of 2006 at the rate of Baht 0.42 per share, totaling Baht 178.5 million by paying cash dividend and stock dividend as follow: 1) Paying cash dividend at the rate of Baht 0.22 per share, totaling Baht 93.5 million. 2) Paying stock dividend totaling 84,999,674 ordinary shares (with a par value of Baht 1) to the shareholders of the Company at the ratio of 5 existing shares to 1 new share, totaling Baht 84,999,674, or at the rate of Baht 0.20 per share. In case that any shareholder has a remaining fraction of less than 5 shares, the dividend therefore would be paid in the form of cash dividend instead at the rate of Baht 0.20 per share. The dividends will be paid on May 18, 2007 to the shareholders whose names appear in the share register at 12.00 hrs. of May 2, 2007. Agenda 10 To Consider the Election of Directors in place of those who Retired by Rotation Resolution The voting for each nominated director is as follows 1.Mr. Palakorn Suwanrath to be Independent Director The voting comprised agreed 313,554,144 votes or 100%; disagreed 0 votes or 0%; and abstained 0 votes or 0%. 2. Mr. Thepparit Vesurai to be Director The voting comprised agreed 313,554,144 votes or 100%; disagreed 0 votes or 0%;and abstained 0 votes or 0%. 3. Mr. Danai Nanasombat to be Director for another term The voting comprised agreed 313,554,144 votes or 100%; disagreed 0 votes or 0%;and abstained 0 votes or 0%. 4. Mr. Vinai Chamlongrasdr to be Director for another term The voting comprised agreed 313,204,144 votes or 99.89%; disagreed 0 votes or 0%; and abstained 350,000 votes or 0.11%. 5. Mr. Visut Montrivat to be Independent Director for another term The voting comprised agreed 313,554,144 votes or 100%; disagreed 0 votes or 0%; and abstained 0 votes or 0%. It is resolved that the Meeting by majority of the total entitled votes elected 5 directors as proposed. In addition, the Meeting acknowledged the criteria for shareholders to propose the director nominee via Nominating procedure, as follows: 1. Being the shareholder of the Company which can be either one shareholder or several shareholders combined. 2. Holding minimum shares in an amount of 0.05 percent of total shares either by one shareholder or several shareholders combined. 3. Must have continuously held those shares in clause 2 for at least one year before the date the shareholder proposes the director nominee and hold those shares until such date. The shareholder, who fully qualified as in the criteria above, can submit the letter via mailing to Managing Director or Executive Assistant of Legal and Securities of the Company or via the Company's web-site during December 1 to January 5 of each year. Agenda 11 To Consider Approving the Amendment to the Signing Conditions for the Company's Authorized Directors Resolution The voting comprised agreed 313,554,144 votes or 100%; disagreed 0 votes or 0%; and abstained 0 votes or 0%. It is resolved that the Meeting by majority of the total entitled votes approved the amendment to the signing conditions for the Company's authorized directors as proposed as follows: Existing condition:Any two directors (who are not independent directors) jointly sign together with the Company' seal affixed, provided they are not from the same group of directors. New condition: Any two directors (who are not independent directors) jointly sign together with the Company' seal affixed. And fixed the name and number of the Company's authorized directors as follows: ACM Narongsak Sangapong, Mr. Kobchai Srivilas, Flight Lieutenant Pisal Chayakula, Mr. Vinai Chamlongrasdr, Mr. Nattachak Pattamasingh Na Ayuthaya, Mr. Bancha Pattanaporn, Mr . Danai Nanasombat, Mr. Navee Lertphanichkul, Mr. Thepparit Vesurai, M.R. Supadis Diskul Any two of ten directors jointly sign together with the company's seal affixed. Agenda 12 To Consider Approving the Amendment to Item 3 of the Memorandum of Association, regarding the Objectives of the Company Resolution The voting comprised agreed 313,554,144 votes or 100%; disagreed 0 votes or 0%; and abstained 0 votes or 0 %. It is resolved that the Meeting with more than three-fourths of the total entitled votes approved amendment to Item 3 of the Company's Memorandum of Association by adding 3 new objectives of the Company as proposed as follows: 13) To be engaged in all types of business in providing or hiring a service of administration and management and business operation for the affiliated companies or other business relating or consequential to the businesses stipulated in Clause 1) and 2) of the Company's objectives. 14) To be engaged in the business of bidding for hire of work purchase or sale of goods under the Company's objectives with any person, group of persons, juristic person, authority and governmental body within and outside of the country. 15) To be engaged in the business of providing service of management and overseeing interest and collection thereof and managing other's assets. Agenda 13 To Consider Appointing the External Auditors and their Remuneration Resolution The voting comprised agreed 313,554,144 votes or 100%; disagreed 0 votes or 0%; and abstained 0 votes or 0%. It is resolved that the Meeting by majority of the total entitled votes approved the appointment of Resolved to appoint Mrs. Kesree Narongdej, Certified Public Accountant Registration number 76, or Mrs. Natsarak Sarochananchin, Certified Public Accountant Registration number 4563 of A.M.T. & Associates to serve as the Company's external auditor for the year 2007, 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 2007 of Baht 676,000 as proposed. Agenda 14 To Consider the Directors' Remuneration for the Year 2006, Monthly Remuneration and Meeting Allowance Resolution The voting comprised agreed 313,554,144 votes or 100%; disagreed 0 votes or 0%; and abstained 0 votes or 0%. It is resolved that the Meeting with more than two-thirds of the total entitled votes approved the director's remuneration for the year 2006, monthly remuneration and meeting allowance as proposed. Agenda 15 Other business - None - Please be informed accordingly. Respectfully yours, (M.R. Supadis Diskul) Managing Director Legal and Securities Division Tel 02-565-3811-8 ext.513, 532