REPORTS ON SYDICATED LOAN FROM 19 FOREIGN BANKS

Sino-Thai Engineering & Construction Plc (STECON) reported that at meeting no.3/1996, held on September 18, 1996, the board of directors resolved to borrow money from foreign banks to use as working capital and repay existing debts. HSBC Investment Bank Asia Limited, Singapore Branch acted as lead arranger for the loan. The details of the syndicated loan are as follows: 1. Date of transaction : October 4, 1996 2. Borrower : STECON 3. Related partners(lenders) : 19 foreign banks with HSBC Investment Bank Asia Limited, Singapore Branch acting as lead arranger 4. Loan value : US$80,000,000 5. Contract date : October 4, 1996 6. Loan period : 3 years 7. Loan objective : To use funds as working capital and repay existing debts 8. Loan collateral : None 9. Repayment of loan : in due course