SUMMARY REPORT OF BOD'S MEETING, NO.1/2002

TP-MT/009/45 (FC003/45) January 18th, 2002. Subject: Summary Report of Board of Directors' Meeting, no.1/2002 Attention: Managing Director, SET As Thantawan Industry Public Co.,Ltd. (THIP) had held the Board of Directors' meeting, no.1/2002 on Friday, January 18, 2002 at 10.00 am. at Meeting room M, Floor 36, Suntowers B. Bldg. 123 Viphavadee- rangsit Road, Lardyao, Jatujak, Bangkok 10900, there were essential minutes as following : 1. Approved minutes of meeting of Board of Directors, no. 8/2001 held on November 12, 2001. 2. Approved the date of convening for extra-ordinary shareholders' meeting, no. 1/2002 on Monday, February 25th, 2002 at 9.00 am. at room Thantawan 3, 11st Fl., Suntowers B Bldg., 123 Vibhavadi- rangsit, Ladyao, Jatujak, Bkk. 3. Approved the agenda for the extra-ordinary shareholders' meeting as follows : 1) Consideration of minutes of extra-ordinary shareholders' meeting, no. 2/2000 held on March 30, 2000. 2) Consideration of the way to manage and maximize cash surplus efficiency. 3) Other matter (if any) In addition, the closing date of share registration book to ascertain the right of whom are entitled in attending the meeting no. 1/2002 starting from Friday, February 8, 2002 at 12.00 pm. onward until the closing time of the extra-ordinary shareholders' meeting. 4. Consideration appointment of Financial Advisory, the board has considered about appointing Financial Advisory to give advise independently and reasonably about related loan transaction, and found that there're some problems & inconvenience due to the process of working hardly to comply with the criterion of Financial Advisor. The Board recommended not to appoint any Financial Advisory and had appointed a working team to follow up, then report to SET and shareholders. 5. Consideration of related loan transaction Chairman informed in the meeting that the said transactions are under consideration process of working team. If any progress, will update to the board in the next meeting. 6. Consideration about investment in assets Chairman informed in the meeting that the said transactions are under consideration process of working team. If any progress, will update to the board in the next meeting. 7. Other matters : 7.1 The Board had been informed about the pay back deposit from purchasing machinary. 7.2 The Board had been informed about the pay back advance money for Plastic Biodegradable Patent. 7.3 No any other matter Please be informed accordingly. Very truly yours, (Mr. Huang Kuan-Chiun) (Mr. Phietoon Trivijitkasem) Director Director