SUMMARY REPORT OF BOD'S MEETING, NO. 1/2003

TP-MT/ 008/46 (FC010/46) January 29th, 2003 Subject: Summary Report of Board of Directors' Meeting, no.1/2003 Attention: Managing Director, SET As Thantawan Industry Public Co.,Ltd. (THIP) had held the Board of Directors' meeting, no.1/2003 on Wednesday, January 29th, 2003 at 10.10 a.m. 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 Board of Directors' meeting, no. 8/2002 without any changes. 2. Notification of the fully paid back deposit of machinery amounting HK$ 3,385,350.- (Three Million Three hundred Eighty-five thousand and Three hundred fifty Hong Kong Dollar) 3. Consideration about money loan to Sunflower Co.,Ltd., the Board of Directors requested Thip to follow both SET's rule and regulation upon cross related transaction, and from Audit Committee's resolution to plan the agenda accordingly in Shareholders' ordinary meeting for the year 2003, asking for approval. And also attaching the opinion of Financial Advisor in the agenda for shareholders to make decision, including setting the itinerary clearly for the meeting. 4. The Board of Directors could not yet select a suitable replacement for a director who had resigned from the company, therefore, will consider this matter in the next meeting. 5. No any other matters. Please be informed accordingly. Very truly yours, (Mr.Phietoon Trivijitkasem) (Mr.Huang Kuan-Chiun) Authorized Director