[Translation] Ref. PDI.B.02.112/98 14 October, 1998 To: President The Stock Exchange of Thailand Re. : Report on the result of a share-offering We refer to PDI's letters, ref. PDI.B.02.108/1998 and ref. PDI.B.02.109/1998 of 7 and 8 October 1998 respectively. Enclosed please find a report on the company's share-offering to a specific investor for the SET's information. Yours truly, - Signature - (Arsa Sarasin) Chairman and Executive Chairman Board Secretary Division Human Resources & Corporate Administration Department [Translation] Report on the result of a share-offering Padaeng Industry Public Company Limited Registration No. Bor Mor Jor. 293 On 14 October 1998 1. Information relating to the share-offering : - Class of shares offered : Newly issued ordinary shares - Number of shares offered : 81,630,442 shares - Offered to : Western Metals International Pty Limited - Price per share : Bt14 per share - Subscription and payment period : 7 October 1998 - 31 July 1999 2.Results of the share sale : A total of 6,530,435 shares were subscribed and paid up on 9 October 1998. There are 75,100,007 shares remaining unsubscribed. As per the resolution of the board of directors meeting, No. 6/2541 dated 29 September and 6 October 1998, the company will re-allocate and re-offer the shares to the above-referred investor in 3 tranches - i.e. 13,060,870 shares to be subscribed and paid up by 28 February 1999; 13,060,870 shares by 31 March 1999; and 48,978,267 shares by 31 July 1999 in accordance with the share subscription agreement signed between the said investor and the company on 7 October 1998 3. Details of the sale : Thai investors Foreign investors Juristic Ordinary Juristic Ordinary persons persons persons persons Total - Number of persons - - 1 - 1 - Number of shares subscribed - - 6,530,435 - 6,530,435 - Percentage of total shares - - 8.00 - 8.00 offered for sale - 2 - 4. Amount of money received from the share sale : Total amount : Bt91,426,090 Less expenses - Financial adviser fee : Bt8,571,196 - Fee on registration of increase of capital : Bt66,100 Net amount received : Bt82,788,794 - Signature - (Signed) Authorized director (Arsa Sarasin) Executive Chairman (With Company's seal affixed)