The President The Stock Exchange of Thailand 62 Ratchadapisek Road Klong Toey, Bangkok 10110 Tel : 229-2000, 654-5656 Fax : 654-5649 December 17, 1999 Dear Sir, Appointment of Audit Committee and Announcement of an Interim Dividend Payment The Board of Directors meeting of Haad Thip Public Company Limited No.4/1999 held on December 17, 1999 passed following resolutions : 1.Appointment of Audit Committee 1.1 Audit Committee to consist of 3 membership positions, with designated persons as follows : Audit Committee Chairman Mr.Prakit Pradipasen Audit Committee Member Mr.Sang Wongprecha Audit Committee Member Mr.Yanyong Maethapanich Audit Committee Secretary Ms.Nupparat Amornchaisakda 1.2 The scope of duties and responsibilities of the audit committee 1.To ensure that the Company will have correct and sufficient financial reports. 2.To ensure the adequate and effectiveness of internal control systems. 3.To consider, select, nominate and recommend remuneration of the company's external auditor. 4.To ensure the Company follows all relevant regulations and laws. 5.To ensure the Company does not engage in any activities that may lead to a conflict of interest of connected persons. ...2/ - 2 - 6.To report the activities of the Audit Committee in the company's annual report which must be signed by the Audi Committee Chairman. 7.To perform any other duties as assigned by the board of directors. 1.3 The period of service for audit committee member is 3 years. An audit committee member who retires from office due to the expiration of term of service may be re-elected. In case of vacancy in the Audit Committee for reasons other than by the expiration of term service, the board of directors will consider well qualified person(s) to become member(s) of the Committee in order to fulfill the requirement. The replacement member(s) shall hold the service for the remaining duration on term of the ex-member(s). 2.Announcement of an Interim Dividend Payment 2.1 That the interim dividend payment for the operation from 1st January to 30th of September 1999 will be Bt 1.00 (one Baht) per share and will be paid to shareholders on January 18, 2000. 2.2 That the date for closing the company share register for the right to receive the dividend will be on January 4, 2000 at 12.00 p.m. Yours sincerely, Sec.Lt. (Phairoch Rattakul) Managing Director Office of Managing Director Tel. 392-9984-5 Ext.108