THE RESOLUTIONS OF THE BOARD OF DIRECTORS NO. 7/1999

No. EGCO 310/491 Date: August 2, 1999 Attn: The President of the Stock Exchange of Thailand Subject: The resolutions of the Board of Directors No. 7/1999 The Board of Directors of Electricity Generating Public Company Limited (EGCOMP) at its meeting No. 7/1999 held on July 30, 1999 passed the resolutions as follows: 1. To approve the engagement of the consortium of Financial Advisors which consist of Credit Suisse First Boston, Ltd, Merrill Lynch Singapore Pte., Ltd, Merrill Lynch Phatra Securities Company Limited, Thai Farmer Bank Public Company Limited and Thai Farmer Asset Management Company Limited in order to study the possibility of EGCOMP's fund raising including appropriate methodology in accordance with the investment plan of EGCOMP for the sustainable growth. Such investment plan consists of projects in the pipeline, as previously reported in the annual registration statement (Form 56-1), that may operate within this year and in the medium term. 2. EGCO Engineering & Service Company Limited (ESCO), which EGCOMP holds 99.99%, was approved to increase capital investment in the amount of Baht 9.9 million in ESCO Wood Company Limited, which ESCO holds 45%. The registered capital of ESCO Wood Company Limited will increase from Baht 20 million to Baht 42 million. This increasing capital in ESCO Wood shall reduce debt to equity (D/E) ratio to adequate level and EGCOMP is confident that this capital investment will create appropriate return in the next 3 years. Sincerely yours, Worawit Khamkanist Managing Director