THE PURCHASE OF TLPC'S SHARES

No. EGCO 310/114 Date : March 2, 2001 Attn : President of the Stock Exchange of Thailand Subject: The purchase of TLPC's shares Electricity Generating Public Company Limited (EGCOMP) would like to inform the progress of the purchase of the 50% rest of Thai LNG Power Corporation Limited (TLPC)'s shares from Energy and Infrastructure Development Company Limited (EID), Petro Asia International Corporation Limited (Petro Asia), Thai LNG Company Limited (Thai LNG), Thanayong Public Company Limited (Thanayong), and Italian Thai Development Public Company Limited (ITD) as follows: On March 2, 2001, EGCOMP purchased 37,500,000 TLPC's shares or 50% of the total shares (75,000,000 shares). The details of the purchase are - Share price EGCOMP purchased at the discount price of paid-up share capital 4.68 Bath/share - Par value 10.00 Baht/share - Issued and paid-up share capital 5.00 Baht/share - Projection on the book value of share as at February 28, 2001 3.68 Baht/share - Purchase from EID 3,000,000 shares at Baht 14,040,000.00 - Purchase from Petro Asia 6,997,500 shares at Baht 32,748,300.00 - Purchase from Thai LNG 7,500,000 shares at Baht 35,100,000.00 - Purchase from Thanayong 9,997,500 shares at Baht 46,788,300.00 - Purchase from ITD 10,005,000 shares at Baht 46,823,400.00 Purchase of the aforesaid shares, the Executive Board of EGCOMP at the meeting No. 4/2001 held on March 1, 2001 passed the resolution to purchase 37,500,000 TLPC's shares or 50% of the total shares by waiving the condition that TLP Cogeneration Company Limited (TLP COGEN), the subsidiary of TLPC held by TLPC and EGCOMP in 40% and 60% stake respectively, has to sign Loan Agreement with the financial institutions for the construction cost of power plant at Rayong Industrial Park. The reason for the waiving is that presently, the loan negotiation for TLP COGEN has satisfactory progress, and holding a 100% stake in TLPC results in an indirect holding of 40% stake in TLP COGEN. Therefore, EGCOMP holds 100% stake in TLP COGEN, and EGCOMP will achieve the objective to jointly hold the stakes with Electric Power Development Company Limited (EPDC) in the proportion of 80% and 20%, respectively. This will strengthen TLP COGEN's negotiation power in order to obtain better condition in financing. Yours sincerely, Machima Kunjara Na Ayudhya Acting for Managing Director