Clarification on News "Stake Increase in GPG"

No EGCO 110/512 Date: November 24, 2003 Attn: President of the Stock Exchange of Thailand Subject: Clarification on News "Stake Increase in GPG" According to the news on Business Day on November 24, 2003, Gulf Electric Public Company Limited, held by Electricity Generating Public Company Limited (EGCOMP) and Electric Power Development Co., Ltd. at 50% each, will increase its stake in Gulf Power Generation Co., Ltd. (GPG), which implement Bor Nok Power Plant Project, from 60% to 100%. EGCOMP would like to clarify the Stock Exchange of Thailand that currently, GEC is on the process of negotiation to increase the said stake in GPG. EGCOMP will inform the progress to SET promptly. Yours sincerely, Kraisi Karnasuta President Corporate Secretary Division Tel. 0 2998 5020 - 27