Contract Signing of the Construction of Airport Rail Link

ST. 010/2005/0002 January 24th, 2005 Subject: Contract Signing of the Construction of Suvarnabhumi Airport Rail Link Project Attention: The President The Stock Exchange of Thailand Sino-Thai Engineering & Construction Public Company Limited is pleased to inform the SET that on January 20th, 2005, the Company signed contract of Suvarnabhumi Airport Rail Link and City Air Terminal project with approximately 28 kilometers in length along the Eastern line. The construction can be categorized into 3 sections as follow: 1. Suvarnabhumi Airport Express, SA Express operates between Makkasan/Asoke Station and Suvarnabhumi Airport Terminal Station with 25 kilometers in length without intermediate stop and total travel time about 15 minutes or less. 2. Suvarnabhumi Airport City Line, SA City Line operates between Phaya Thai Station and the Suvarnabhumi Airport Terminal, passing Makkasan/Asoke Station, with 28 kilometers in length stop at the intermediate stations and total travel time about 30 minutes or less. 3. City Air Terminal, CAT is located at Makkasan/Asoke Station. The Company's scope of work includes Civil Work and Structures: namely Interchange Structures, Pier Arrangement, Depot and Viaduct, Maintenance Facility, Operations Control Center, Transit Station, and City Air Terminal including infrastructures. The value of Civil Work and Structures is 12,284,000,000.00 Baht (VAT. Included) while the total contract value is 25,907,000,000.00 Baht (VAT. Included). The construction period is 990 days and the construction will be commenced as soon as the letter of the commencement of the construction from SRT is received. The owner of the project is the State Railway of Thailand (SRT) and the project consortium comprises five companies as following: 1. B. Grimm International Company Limited 2. Siemens Aktiengesellschaft 3. Siemens Company Limited 4. B. Grimm MBM Hong Kong Company Limited 5. Sino-Thai Engineering and Construction Public Company Limited It is therefore informed for your acknowledgement and dissemination to the public and other investors. Yours sincerely Anilrat Nitisaroj Vice President - Investor Relations