NO DIVIDEND PAYMENT

HO.TO.041/1998 August 26, 1998 To: Director of Registration Division The Stock Exchange of Thailand Subject: Inform of Resolutions Adopted of the 126th Board of Directors Meeting The resolutions of the Board of Directors adopted at 126th Board of Directors Meeting on August 26, 1998 are as follows: 1. The minutes of 125th BDM held on May 15, 1998 was approved. 2. Resolved that the report of Management was approved and the audited financial statements for fiscal year ended 30th June 1998 was acknowledged for submission to the shareholders meeting for approval by the shareholders. 3. Resolved that the Board approved to re-appoint Mr. James Ching Man Yuan as director of the Company to fill the vacancy resulting from the resignation of the director informing to the Board at the previous meeting. 4. Resolved that the Board recommend the Shareholders meeting to approve the omission of payment of final dividend for fiscal year ended June 30, 1998. 5. Resolved that the Board approved the Progressive Report-Y2K submitted to the Board for consideration by the Management. The Board also approved and executed the official report form to be submitted to the Stock Exchange Of Thailand. 6. Resolved that the 127th Board of Directors Meeting will be held on Thursday, October 22, 1998 and at 1:00 p.m. 7. Resolved that the Annual Shareholders Meeting will be held on Thursday, October 22, 1998 and the closing date for determining rights to attend the meeting by the shareholders will be on October 1st, 1998 at 12.00 a.m. 8. Resolved that the Board of Directors Meeting recommends to the Shareholders Meeting to approved the change of the Company+s fiscal year from July 1 to June 30 to January 1 to December 31 of every year. In this connection, the Article 33 of the Articles of Association of the Company shall also be proposed to the Shareholders Meetings to approve the amendment to the Articles of Association, Article 33 to be as follows: +Article 33. The fiscal year of the Company shall start on January 1st and end on December 31st of every year." Respectfully Singer Thailand Public Company Limited ( Mr. Sophon Pholvilai ) Director