REPORTS MEMORANDAM OF CONSTRUCTION

Sino-Thai Engineering & Construction Plc (STECON) reported that the company has a contract with the Finance Ministry to build an International Zone worth Bt205 million. The construction will include the buildings worth Bt120,500,000 along with primary and kindergarden schools. Both are located at the area of Rungsit Center of Thammasat University. The details of the primary and kindergarden schools in the International Zone are: 1. Date of transaction : September 23, 1996 2. Related partner : The Finance Ministry 3. Project's owner : The Finance Ministry 4. Project's location : Around the area of Rungsit Center of Thummasat University 5. Project value : Bt120,500,000 6. Purpose : To construct primary and kindergarden schools in the International Zone 7. Project period : Start on August 10, 1996 and end within April 1, 1997 The details of other buildings in the International Zone 1. Date of transaction : September 23, 1996 2. Related partner : The Finance Ministry 3. Project's owner : The Finance Ministry 4. Project's location : Around the area of Rungsit Center of Thummasat University 5. Project's value : Bt205,000,000 6. Other details : To construct buildings in the International Zone of the 13th Asian Games Sports Complex 7. Project period : Start on August 9, 1996 and end within May 31, 1998