CAPITAL UTILISATION REPORT AS AT DECEMBER 31, 1998

No. EGCO 310/026 Date : January 19, 1999 Attn : President of the Stock Exchange of Thailand Subject : EGCOMP's Capital utilisation report as at December 31, 1998 Reference to our letter dated July 22, 1998, Electricity Generating Public Company Limited (EGCOMP) informed the utilisation of proceeds as at June 30, 1998. We would like to report the balance of the capital as at December 31, 1998 as follows : Balance as at June 30, 1998 Bt 2,622,209,839.28 Less : Investment in EGCO Joint Ventures and Development Co., Ltd. Bt 103,950,000.00 Investment in EGCO Mining Co., Ltd. Bt 20,400,000.00 Construction of Head Office Bt 179,663,314.00 Balance as at December 31, 1998 Bt 2,318,196,525.28 Sincerely yours, Worawit Khamkanist Managing Director