CLARIFICATION ON EGCOMP

No. EGCO 410/013 Date : January 10, 2002 Attn : President of the Stock Exchange of Thailand Subject: Clarification on EGCOMP Reference is made to the news appeared on the newspapers regarding EGCOMP's presentation at Bualuang Securities on January 9, 2002 and request from the SET for clarification on the information Khun Machima Kunjara Na Ayudhya stated that EGCOMP share price should be at Baht 50 approximately, and the news regarding the cancellation of the company's treasury stock program. EGCOMP would like to clarify as follows; 1. The reason why Khun Machima stated EGCOMP share price should be at Baht 50 approximately is the price calculated by the Discounted Cash Flow (DCF) method, which is the Net Present Value of the company's future cash flow from its financial model of existing and developing projects (considered as the fundamental value). This method is normal practice done by analysts. Current trading price is approximately at 36-37 Baht per share, which is lower than the fundamental value due to current market situation, outlook of economic situation, and listed companies' business operating potential that investors in the market discount from the fundamental value since they may not have confidence on the future cash flow of the listed companies in the SET, including EGCOMP. 2. Regarding the treasury stock, EGCOMP still implement the treasury stock program approved to start from January 2, 2002 to July 1, 2002, as reported to the SET on December 17, 2001 and January 3, 2002. The company does not stop the implementation. However, the transaction may not be occurred everyday because the company must be cautious not to manipulate the share price. Your sincerely, Mr. Machima Kunjara Na Ayudhya Senior Executive Vice President Acting for President