DISSOLUTION OF BANGCHAK POWER CO., LTD.

No. EGCO 310/725 Date: November 24, 1999 Attn: President of the Stock Exchange of Thailand Subject: Dissolution of Bangchak Power Co., Ltd With reference to the report by Electricity Generating Public Company Limited (EGCOMP) regarding EGCO Joint Ventures & Development Co., Ltd., a subsidiary of EGCOMP, holding 30% stake in Bangchak Power Co., Ltd. (BPCO). BPCO has Baht 40 million registered capital with the objective to construct 70 MW power plant to generate and sell electricity 60 MW to Electricity Generating Authority of Thailand and sell the remaining electricity and produced steam to Bangchak Petroleum Public Company Limited. Now, EGCOMP would like to inform that BPCO in its Extraordinary Shareholders meetings has passed a resolution to dissolute BPCO as a result from economic crisis in 1997 which adversely affected the project. Currently, it has already filed for the dissolution of the company and is in the process of liquidation. Sincerely yours, Worawit Khamkanist Managing Director