THE RESOLUTION OF EGCOMP'S BOARD OF DIRECTORS NO. 7/2002

No. EGCO 350/412 Date : October 28, 2002 Attn : President of the Stock Exchange of Thailand Subject: The resolution of EGCOMP's Board of Directors No. 7/2002 Electricity Generating Public Company Limited (EGCOMP) would like to inform the Stock Exchange of Thailand that EGCOMP's Board of Directors at the meeting No.7/2002, held on October 28, 2002, passed the following resolution: 1. To appoint the following 2 new Directors to be the successors of Mr.Thomas Watters and Mr.Sitthiporn Ratanopas, who resigned from the Board of Directors. The effective date will be on October 28, 2002. - Mr.Kraisi Karnasuta - Mr.Andrew J. Pickering 2. To appoint Mr.Kraisi Karnasuta. as the President, effective on October 28, 2002. 3. To reappoint Mr.Worawit to resume his Audit Committee membership effective on November 1, 2002. The Board of Directors carefully considered that Mr.Worawit possesses the good corporate governance principle and being the Acting President for limited period, approximately 1 month, will not have any impact to his duty and independence as the Audit Committee member. 4. To concur with EGCO Engineering & Service Co., Ltd. (ESCO), 100% stake held by EGCOMP, to decrease its registered capital from 350,000,000 Baht to 250,000,000 Baht. Since ESCO will focus its operation on its core business, operation and maintenance services, ESCO would like to appropriately adjust its capital structure in order to benefit its operation. The amount of 100,000,000 Baht will be returned to EGCOMP. Yours sincerely, Machima Kunjara Na Ayudhya Senior Executive Vice President-Finance & Administration Acting for President