The President The Stock Exchange of Thailand 62 Rachadapisek Road, Klong Toey, Bangkok 10110 Tel : 229-2000, 654-5656 Fax : 654-5649 April 30, 1999 Dear Sir, REPORTS ON RESOLUTIONS ORDINARY SHAREHOLDERS' MEETING FOR THE YEAR 1999 Resolutions were made on a shareholders' Ordinary Meeting on April 30th,1999 held from 14.00 hrs. to 15.30 hrs.at the Sai-Thip 3 Room on the 3rd floor of the Imperial Queen's Park Hotel, Bangkok. The resolutions are as follows : 1. To certify the minutes made at an Ordinary Shareholders' Meeting for the Year 1998 which was held on the April 30th 1998. 2. Report on the Company's business results for the Year 1998 and approved the Annual Report for 1998. 3. Approved the Balance Sheet and Profit and Loss Account for the period ended December 31, 1998 after they have been audited. 4. Approved the allocation of net profit and dividends of the Year 1998 as follows :- 4.1 To allocate 5 per cent of the profit for Legal Reserves which comes to an amount of 3,177,628.00 Baht (Three million,one hundred seventy seven thousand, six hundred and twenty eight Baht) 4.2 To allocate 3,000,000.00 Baht ( Three million Baht ) for General Reserve. 4.3 To pay dividends of 2.50 Baht (Two Baht and fifty Satangs) per share, of which an interim payment had been made on September 30, 1998 at 1.50 Baht (One Baht and fifty Satangs) per share. The remaining dividends of 1.00 Baht ( One Baht ) per share is to be paid on May 17, 1999. 5. To appoint directors and approve their remuneration for the Year 1999 : 5.1 The directors whose tenure have ended are as follows : 1. Gen.Charan Kullavanijaya 2. Pol.Lt.Gen.Kosol Limpichart 3. Pol.Maj.Gen.Chamtoon Savasdi-Xuto 4. Ms.Smornluk Mahasmiti 5. Mr.Sang Wongprecha ...2/ - 2 - 5.2 The directors being re-appointed are as follows : 1. Gen.Charan Kullavanijaya 2. Pol.Lt.Gen.Kosol Limpichart 3. Pol.Maj.Gen.Chamtoon Savasdi-Xuto 4. Ms.Smornluk Mahasmiti 5. Mr.Sang Wongprecha The members of the new Board of Directors are : 1. Gen.Charan Kullavanijaya Chairman 2. Sec.Lt.Phairoch Rattakul Managing Director 3. Mr.Prakit Pradipasen Independent Director 4. Pol.Lt.Gen.Kosol Limpichart Independent Director 5. Pol.Maj.Gen.Chamtoon Savasdi-Xuto Director 6. Mrs.Yupares Thiengtham Director 7. Mr.Chatchur Karnasuta Director 8. Mr.Krasae Paseepol Director 9. Mr.Sang Wongprecha Director 10. Ms.Smornluk Mahasmiti Director 11. Mr.Chalit Limchitti Director 12. Mr.Preecha Somsawad Director 13. Mrs.Osarit Amartayakul Director 14. Mrs.Pariya Chirabandhu Director 15. M.L.Anuporn Kasemsant Director 5.3 Approved remuneration for Board of Directors : 1. Directors'meeting allowance 6,000.00 Baht (Six thousand Baht) per meeting per director 2. Total directors'fee 200,000.00 Baht (Two hundred thousand Baht) per year 6. To appoint auditors and fix audit fees for the period ending December 31, 1999 as follows : 6.1 Mr.Prasit Musikabhatu, CPA No.2675 and/or Mr.Vichien Thamtrakul, CPA No.3183 of SGV-Na Thalang & Co.,Ltd. 6.2 Approved the regular audit fee for the Year ending December 31, 1999 an amount of 310,000.00 Baht (Three hundred and ten thousand Baht) and review fee of 60,000.00 Baht (Sixty thousand Baht) per quarter. 7. Other issues (if any) - none - Yours sincerely, for Haad Thip PLC. Sec.Lt. (Phairoch Rattakul) Managing Director Office of the Managing Director Tel. 392-9984-5 Ext. 108