TO FOUND NEW SUBSIDIARY, ISSUE DEBENTURES

Singer Thailand Plc was resolved by the 122nd board meeting on Aug 29, 1997 as follows: 1. To perceive the subsidiary establishment with investments of Bt5 m, running whole sale business, detail as followed: Business goal : to become agent distributing audio appliance, TV set, mini-electronics as well as new model of sewing machine through whole sale networkj Objectives : -to contend in whole sale business, beside of SINGER's core business -to distribute mini electronic appliance and SINGER sewing machine -to target customers of class A and B+ This is not classified as acquisition/disposition of listed company's assets. 2. To issue debentures in baht currency or anyone equivalent to not over Bt900 m. In case some of them redeemed, the company was approved to fill the issue within the sum determined with the maturity of each issue not long than 3 years. The allocation falls under general public and/or private placement and/or oversea investors and may be made at once or several times, or in offshoar or onshore market. The Board of directors was authorised to determine terms, conditions and criterias of the issueance. Comment : Please verify details from Public SIMS Translated by The Nation