REPORT OF PROGRESS ON LOAN REPAYMENT

TP-MT/012/45 (FC007/45) January 30th, 2002. Subject: Report of progress on Loan repayment Attention: Managing Director, SET Referring to the details of letters dated December 20, 2001 and January 18, 2002 regarding the short term loan - Promisory Note amounting 23.0 million bath extending to Sunflower Co.,Ltd. THIP would like to update the progress on Loan repayment follow-up as follows :- 1. According to the Board of Directors' meeting on January 18,2002 considering agenda No. 4 upon appointing the Financial Advisory, the resolution was to appoint the working team to consider and follow up the said loan transaction under 3 frameworks : - Analyze and confirm about the real margin getting from the loan 23.0 million baht. - Follow up and verify Sunflower Co.,Ltd's collateral to mitigate credit risk. - Prepare rules & regulations as criteria for the next loan transaction,either as shareholders or not, both short term and long term. 2. Sunflower Co.,Ltd. had issued the letter to renew the Promisory Note amounting 23.0 million baht for another 60 days in which new due date is March 20, 2002, and will pay the unpaid interest on Jan 30, 2002 together with installment repayment on 20th of every month. 3. Sunflower Co.,Ltd. had paid the loan interest completely amounting 838,493.15 baht on January 28 and January 30, 2002. 4. On January 29, 2002, the Executive Board of Directors' meeting approved the renewal of the Promisory Note amounting 23.0 million baht for another 60 days, in which new due date is March 20, 2002, and the working team will coordinate with Sunflower Co.,Ltd. to pledge addition collateral covering the outstanding loan amount within 2 weeks. 5. THIP had informed Sunflower Co.,Ltd. regarding THIP's approval on clause 4 above on January 30, 2002. Please be informed accordingly. Very truly yours, (Mr.Viroon Paolinjong) Director