THE VISIONS OF EGCOMP'S NEW PRESIDENT

No. EGCO 350/528 Date : December 20, 2002 Attn : President of the Stock Exchange of Thailand Subject: The Visions of EGCOMP's new President Reference: The Report to the Stock Exchange of Thailand No. EGCO 359/412 on the resolution of EGCOMP's Board of Directors No. 7/2002 dated October 28, 2002 According to the Analyst Meeting of Electricity Generating Public Company Limited (EGCOMP) held on December 19, 2002 in order to introduce Mr.Kraisi Karnasuta, EGCOMP's new President, who has been appointed on October 28, 2002 as stated in the reference, The analysts asked Mr. Kraisi regarding his visions and strategies to create shareholders' value and pursue growth of the company. Therefore, in order to convey the messages to all investors with transparency and equitability, EGCOMP would like to inform the Stock Exchange of Thailand (SET) Mr. Kraisi's visions and strategies as follows: 1. EGCOMP will pursue qualitative growth by focusing to invest in its core business especially in Independent Power Producers (IPP) with good return, which immediately generate their incomes or will generate them in the near future. 2. EGCOMP will divest its non-core business and will manage its existing assets on the basis of Economic Value Added (EVA). 3. EGCOMP will try to maintain its cash flow sufficient to submit to pay its dividend from the operating results in the 2nd half of the year 2002 equal to the dividend paid from the results in the 1st half year, 1.25 Baht per share. 4. EGCOMP will select the suitable sources of fund according to economics and financial market for the investment in No.1. Issuance of the shares will be the last source of fund for this matter. Moreover, under the load forecast, which shown that the electricity in the southern part of Thailand will likely be insufficient in the near future, this will provide an opportunity to EGCOMP to propose Khanom's Expansion Project. Thus, the proposal will be submitted on the basis of profit maximization to all stakeholders, which are the Nation, Thai people, and the company. Yours sincerely, Mr. Kraisi Karnasuta President