Changes its Board of Directors & Liquidation of subsidisries

(Translation) H.T. 051/2003 November 14, 2003 To: President The Stock Exchange of Thailand Subject:CHANGES ITS BOARD OF DIRECTORS AND LIQUIDATION OF SUBSIDISRIES The resolution of the Board of Directors adopted at 150th Board of Directors Meeting on November 14, 2003 are as follows:- 1. Accepted the resignation of Mr. John P. Cannon Approved the appointment of Mr. Tobias Josef Brown 2. Liquidation of Subsidiaries are as follow:- 2.1 Singer Trading (Thailand) Limited, Registration No. 4084/2531, Singer Thailand PCL holding by Singer Trading 4,993 shares represented 99.86% of total shares. The company has been dormant for many years. 2.2 Sansui (Thailand) Limited, Registration No. 3373/2536, Singer Thailand PCL holding by Sansui (Thailand) 4,993 shares represented 99.86% of total shares. The company has been dormant for many years. 2.3 S.T.L. Electronic Company Limited, Registration No. 1216/2540, Singer Thailand PCL holding by S.T.L. Electronic 4,992 shares represented 99.84% of total shares. The company had not operated since 1997. Therefore the liquidation of these subsidiaries will not be affect in any ways to Singer Thailand PCL. They will be liquidation within December 31, 2004. Yours sincerely,