THE SALE OF ESCO WOOD'S SHARES

EGCO No. 310/416 Date : August 15, 2000 Attn : The President of the Stock Exchange of Thailand Subject : The sale of ESCO Wood 's shares Ref : Financial statements for the second quarter ended June 30, 2000 According to EGCO Engineering and Service Co., Ltd.(ESCO), 99.99% owned subsidiary of Electricity Generating Public Company Limited (EGCOMP), invested in ESCO Wood Co., Ltd.(ESCO Wood) together with John Wood Group Holdings B.V. (JWG) and Mr.Pichit Tiyavutiroj with the registered capital of Baht 20 millions at the shareholding proportion of 45:45:10. The company registration was on July 30, 1997. As ESCO Wood's operating performance indicated the accumulative loss and did not achieve its business plan and this resulted in the capital increase and loans injection by all the shareholders, the Board of directors of EGCOMP at its meeting No.1/2000 held on January 24, 2000 approved ESCO to sell its 45% stake in ESCO Wood to JWG . On June 2, 2000, ESCO signed Share Purchase Agreement with JWC at a total of Baht 1, equivalent to the book value of the company on the share purchase date. The sale details are shown in EGCOMP's financial statements for the second quarter ended June 30, 2000. Yours sincerely, Sitthiporn Ratanopas Managing Director