PRESS RELEASE FOR BANKRUPTCY PROTECTION SINGER N.V. USA

September 15, 1999 Khun Vicharat Vichit-Vadakan President The Stock Exchange of Thailand 62 Rachadabhisake Road Klongtoey Bangkok 10110 Dear Sir, Please find attached a press release recently issued by The Singer Company N.V. relating to its filing for bankruptcy protection. Singer Thailand Public Company Limited is not included in the filing, therefore, the Company is not affected by the actions implemented by The Singer Company N.V. The Management of the Company recognizes that the present adverse visibility of the Singer name is not a positive factor, but it is unavoidable. We also believe that the actions initiated by The Singer Company N.V. will not have any adverse impact for our customers, our employees, our suppliers and our shareholders. Sincerely yours, D. Philiponet Managing Director Encl. DP/ps