OPERATING RESULTED EXCEED 20% OF Q3-98

No. EGCO 320/502 November 2 , 1998 Attn : The President of the Stock Exchange of Thailand Subject : Financial statements and report concerning financial results of operation for the third quarter ended September 30,1998 We submit herewith the financial statements by equity method and the consolidated financial statements of Electricity Generating Public Company Limited and subsidiaries for the third quarter ended September 30,1998 and 1997 , of which the operating results for the third quarter of 1998 has been changed exceeding 20% from the same period in 1997. In order to comply with the Regulation of the Stock Exchange of Thailand Re: Rules , Conditions , and Procedure Governing Preparation and Filing of Financial Statements and Reports Concerning Financial Status and Results of Business Operations of Listed Companies(No.1) B.E.2541 item 4(7),we would like to clarify that the company's net profit of Baht 1,412.28 MM. for the third quarter of 1998 is higher than net loss of Baht 3,272.28 MM. over the same period in 1997 due to :- * the total revenues increased Baht 343.37 MM. or 16 % which resulted from the increased of Baht 191.73 MM. sale revenue of which Baht 207.71 MM. compensation related to The First Amendment to PPA included. Besides, interest income increased Baht 151.53 MM. due to the higher interest rate. * the total expenses decreased Baht 4,340.69 MM. or 81% (the expenses of 1997 included extraordinary item of foreign losses of Baht 3,596.21 MM.) which resulted from the significant increasing of two subsidiary companies' foreign exchange gains of Baht 4,489.26 MM., although the maintenance expense increased Baht 231.86 MM. In conclusion, the net profit for the third quarter of 1998 excluding foreign exchange gain of Baht 893.05 MM. is Baht 519.24 MM. Yours sincerely, Mr. Worawit Khamkanist Managing Director Accounting & Budget Division Tel : 513-2330 EXT.1800 Fax: 513-7335-6