[Translation] Ref. PDI/BK-BS-011/2007 19 February 2007 To : President The Stock Exchange of Thailand Re. : Resolutions of the board of directors' meeting, No. 01-2007 The board of directors of Padaeng Industry Public Company Limited at its meeting, No. 01-2007 on 16 February 2007 has adopted the following resolutions: 1. Reviewed 2006 financial statements and resolved to propose the financial statements (audited) for approval at the next AGM. 2. Approved the dividend payment for 2006 at 5.20 Baht per share, which is higher than the normal dividend policy, amounted to 1,175,200,000 Baht, which be allocated to the shareholders whose names appeared on the shareholders list closing on Tuesday 8 May 2007. This will be submitted for final approval in the AGM. 3. Noted 3 board members who will be due to retire by rotation namely Mr. Arsa Sarasin, Mr. Aswin Kongsiri and Mr. Pinit Vongmasa and will propose to the AGM the re-election for another term and appointed Mr. Thanin Serngadichaivit, representative of Bangkok Bank Plc, as new director. to replace for Mr.Kosit Panpiemras as of 16 February 2007 onward. This will be submitted for acknowledgement in the AGM. 4. Approved the appointment of PricewaterhouseCoopers ABAS Limited as the company's auditors for 2007 as well as audit fees for the shareholders' approval. 5. Approve to convene the 2007 ordinary shareholders' meeting on Monday, 23 April 2007 at 14.00 hr at Meeting Room 1-2, Queen Sirikit National Convention Center, No. 60 Ratchadapisek Road, Klongtoey District, Bangkok, with the following agenda: I. Subject to be informed by the Chairman of the Board of Directors (if any); II. Approve minutes of the 2006 Ordinary Shareholders' Meeting held on 26 April 2006; III. Annual Report of the Board of Directors for the year 2006; IV. Approve the audited balance sheet and profit and loss statement for 2006; V. Approve the net profit appropriation and dividend payment for 2006; VI. Elect new members of the board of directors to replace those who retired by rotation, and acknowledge the appointment of the new; VII. Approve the 2006 bonus payment to the board; VIII. Approve the appointment of the company's auditors for the year 2007 and approve the audit fees; IX. Other matter (if any). The company's share transfer book will be closed on Tuesday, 3 April 2007 from 12.00 hr until the meeting is adjourned for determination of the Shareholders' meeting participation right. Please be notified accordingly. Yours truly, - Signature - (Bernard Tonnon) Managing Director Board Secretary Division Tel. 02 661 9900 Ext. 1402 Fax 02 661 9946 ?? ?? ?? ?? Page 1 of 2