HAILAND FILE ONLY ANNUAL AUDITED FINANCIAL STATEMENT

( Translation ) 005/1999 Date : February 2, 1999 Re : Singer Thailand file only annual audited financial statements. Singer Thailand PCL. will replace submission of quarterly financial statements with period ones after it was allowed by the Commerce Ministry and The Revenue Department to change its period ending from June 30, 1997 to December 31, 1998. Therefore, the Company will file financial statements by March 1st, 1999. Comparative financial statements as presented the unaudited financial statements for the six months ended December 31, 1998 and audited financial statements for the six months ended December 31, 1998. The period of year to year comparison of the following year financial statements, unlike above mentioned, will take usually as 12 months during January 1 - December 31. The company will file only annually audited financial statements not quarterly reviewed ones.