[Translation] Ref. PDI.B.02.119/98 28 October, 1998 To : President The Stock Exchange of Thailand Re. : Notification of resignation of an independent director and appointment of two new independent directors We would like to inform the SET that the board of directors of Padaeng Industry Public Company Limited (PDI) at its meeting, No 7/1998 on 27 October 1998 has acknowledged that Mr. Vitthaya Vejjajiva, an independent director, has resigned from PDI's directorship, effective from 26 October 1998. The board has appointed two new independent directors, namely Mr. Vinai Vamvanij and Dr. Vuthiphong Priebjrivat in replacing the vacated posts for the remaining term of Mr. Nopadon Mantajit and Mr. Sirin Nimmanahaeminda, who resigned from PDI's directorship on 8 and 14 September 1998 respectively. The new independent board members have qualifications as referred in the SET's Notification, re. Qualifications of Independent Directors. Pursuant to the Share Subscription Agreement signed with a foreign investor on 7 October 1998, the board of directors has to be restructured. Legal proceedings are currently under way and the company will inform the SET of the new board structure as soon as registration of the new directors with the Ministry of commerce is completed. Yours truly, - Signature - (Arsa Sarasin) Chairman & Executive Chairman