REGCO REFINANCE AND EGCOMP'S UNDERWRITING AGREEMENT SIGNING

No. EGCO 310/657 Date: October 20, 1999 Attn: The President of the Stock Exchange of Thailand Subject: REGCO refinance and EGCOMP's Underwriting Agreement Signing Reference to our letter No. EGCO 310/628 dated September 28, 1999, Electricity Generating Public Company Limited (EGCOMP) informed that Rayong Electricity Generating Company Limited (REGCO), 99.99% owned subsidiary of EGCOMP, has refinanced Baht Loan (Tranche C) amount of Baht 3,550 million. EGCOMP would like to inform the additional information that REGCO has swapped Baht Loan from Krung Thai Bank Public Company Limited (KTB) in the outstanding amount of Baht 1,110 Million from floating rate at MLR-0.5% to fixed rate at 8.00% p.a., effective from September 30, 1999 until December 7, 2006. Therefore, REGCO has no risk from interest rate of all loans. In addition, EGCOMP will sign Underwriting Agreement with Thai Farmers Bank Plc and Merrill Lynch Phatra Securities Co., Ltd as Joint Lead Managers and Bangkok Bank Plc, Siam City Bank Plc, Thai Military Bank Plc and Bank of Ayudhya Plc as Co-Managers and Siam Commercial Bank Plc, Bank of Ayudhya Plc and Ayudhya Securities Co., Ltd as Selling Agents for the distribution of the Amortizing Debentures of Electricity Generating Public Company Limited No. 1/1999 Due 2004 amounting Baht 5,000 million on October 20, 1999 at 4.30 p.m. at EGCO Tower. Sincerely yours, Worawit Khamkanist Managing Director