SET Announcements

Ref. SS/0803/1998 Registration No. Bor.Mor.Jor. 589 June 10 , 1998 Director and Manager of Stock Exchange of Thailand. Re: Additional Report to Clarify the Resolution of the Sansiri Public Company Limited board of directors meeting # 4/1998 Dear sir, With reference to our letter to yourself ref. SS/0800/1998 dated June 9, 1998 regarding report of the resolution of the company board of directors meeting # 4/1998 held on June 8,1998 of which your officer has advise us to disclose further details relating to the said resolutions. We would like to give explanation and details of each resolution as follows: 1. The Restructuring and Settlement of Loan Granted by Siam Commercial bank Public Company Limited. As of June 8,1998 we had total outstanding debt owe to SCB in the amount of Baht 249,536,671.- comprising the principle amount of Baht 225,900,000.- and the accrued interest of Baht 23,636,671.-. This debt has been incurred under 3 promissory notes issues to them which were due on the following date. Note 1. in the amount of Baht 16,900,000.- due to be paid on March 9, 1998 Note 2. in the amount of Baht 202,000,000.- due to be paid on April 20, 1998 Note 3. in the amount of Baht 7,000,000.- due to be paid on April 20, 1998 Due to the slump of the real estate businesses in Thailand, the company had to negotiate with the creditors to restructure the said debt by set-off with the mortgaged property and by cash derived from the selling of the company new issue shares as per detail in our referred letter above. 2. The Allocation and Offering of the Companys New Issue Shares to SCB. The objective of this offering was to raise money from SCB to repay the outstanding debt owe to it. Prior to this offering, SCB did not hold any shares in the company so that after the subscription of the said offering shares , SCB will hold 2,928,045 shares in the company which equal to 4.34 % of the companys paid up capital. Yours Sincerely ............................ Srettha Thavisin - Director (83/SET-EG.DOC)