CLARIFICATION ON THE SELLING OF ACS ASIA (1996)

Our Ref : ST /1999/0589 May 12,1999 Subject : Clarification on the selling of ACS Asia (1996). Attention : Director and Manager The Stock Exchange of Thailand Sino-Thai Engineering & Construction Public Company Limited has convened a Executive Committee Meeting No.13/1999 during 9.00 hour - 10.00 hours, on May 12, 1999. The company would like to inform the SET that the following concluded resolution was adopted at the said meeting : - The Company sells the ACS Asia (1996) shares for 750,000 shares at the total price of NZD 1,000,000 (One million New Zealand Dollar Only) to Forlong & Mesey Ltd. who does not have any related business with the Company in accordance with the SET Regulation. In addition, the transaction size is also not over than the calculation measurement of the SET regulation. The purpose of the selling is to utilize the money as working capital of the Company. Please be advised and disclose to investors and public. Very Truly Yours, Sino-Thai Engineering & Construction Plc. ( Mr. Woraphant Chonthong ) Senior Vice President Finance and Account