THE ALLOTMENT OF WARRANTS TO EMPLOYEES IN THE THIRD YEAR

No. EGCO 310/593 Date: December 21, 1998 Attn: The President of the Stock Exchange of Thailand Subject: The allotment of warrants to employees in the third year According to the resolution of the Extraordinary General Meeting No. 1/1995 of Electricity Generating Public Company Limited (EGCOMP) held on August 22, 1995, 10 million warrants were approved to issue and offer to employees of EGCOMP and its subsidiaries within a 5 year life of project. One warrant is entitled to purchase one ordinary share at price of Baht 30 apiece. In addition, the Board of Directors of EGCOMP was authorized to amend criteria and conditions and to fix details relating to the issue and offer of warrants. EGCOMP has already issued 1,327,100 warrants on February 27, 1997 in the first year and 1,482,100 warrants on April 1, 1998 in the second year. The Board of Directors at the meeting No. 15/1998 held on December 21, 1998 passed the resolution to allot 1,623,600 warrants to EGCOMP and its subsidiaries employees in the third year.The exercise date is set to be on April 17,1999 or one year from the issuing date. EGCOMP will later file the registration statement to the Office of Securities and Exchange Commission. Sincerely yours, Worawit Khamkanist Managing Director