SET AGM Date, Dividend payment

TP-MT/021/47 (FC002/47) February 25th, 2004. Subject: Summary Report of Board of Directors' Meeting, no.1/2004 Attention: Managing Director, SET As Thantawan Industry Public Co.,Ltd. (THIP) had held the Board of Directors' meeting, no.1/2004 on Wednesday, February 25th, 2004 at 10.00 p.m. at 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. 10/2003 2.Approved the company's performance in 2003. The Board of Directors approved last year's performance and forward the matter for further consideration and approval by shareholders. 3.Approved the balance sheet and the profit and loss statement as of December 31, 2003. and forward the matter for further consideration and approval by shareholders. 4.Allocated net profit and approved dividend payment at the rate of Bt. 0.75 (seventy five satang) per share which proposed to be paid on Friday, May 28, 2004 and forward the matter for further consideration and approval by shareholders. 5.Approved the date of convening for general shareholders' meeting, no.1/2004 on Monday, April 26, 2004 at 10.00 am. at Suntowers B-11st Fl., 123 Viphavadee-rangsit Road, Lardyao, Jatujak, Bangkok. The agenda for the meeting are as follows : 1) Consideration of minutes of general shareholders' meeting, no. 1/2003 2) Consideration of company's performance in 2003. 3) Consideration of balance sheet and the profit and loss statement for year ended Dec.31, 2003. 4) Consideration of dividend payment for the year 2003. 5) Consideration of the appointment of company's directors whom their terms expired. 6) Consideration of the appointment of new company's directors replacing the resigned director. 7) Consideration of appointing the auditor and fee for the year 2004. 8) Consideration of credit line to related or unrelated transaction. 9) Consideration of additional company rule 10) Other matters ( if any ) 6. Approved the closing date of share registration book to ascertain the rights of shareholders entitled in attending the general shareholders' meeting, no.1/2004 and the closing date of share registration book for dividend payment starting from Thursday, April 8, 2004 at 12.00 am. onward until the closing time of the general shareholders' meeting. 7.Approved the appointment of four company's directors whose terms expired in 2004 as following to retain the same position in next serving term: 1. Dr.Phietoon Trivijitkasem Director 2. Mr. Huang Kuan-Chiun Director 3. Mr. Pasit Assamongkol Director 4. Mr.Wiboon Ratanakijkamol Director Board of director acknowledge the term expired of 4 directors and approved re-appointment of the directors, Those 4 directors do not vote in these meeting and will submit this matter to Shareholder meeting for approval. 8.Postpone the election of new director in place of resigned director and forward the matter for further consideration and approval by shareholders. 9.The Board of Directors would like to compare the cost of audit of with Thammaniti Auditing co.,ltd. and will make a decision in the next meeting 11.Approved the amendment of the company article of association The Board of Directors agreed to amend an article of association as follow: "incase the company or subsidiary company agreed for a transaction which relate to each other as the announcement of SET defining the transaction of public company, the company must follow the rule as an announcement on each transaction" and submit the report to the shareholder meeting to consider and approve. 12.Approved the good corporate governance policy The Board of Directors had recognized the importance of good corporate governance policy, thereby formulated the policy in following essences: 1. Fair and equal treatment to shareholders and stakeholders. 2. The Board's commitment in creating added value of the enterprise in long-term, and undertaking business management with carefulness, accountability, competency, and optimal efficiency for the highest shareholders' value. 3. Operating based on principles of transparency, auditability, and full disclosure of information to all stakeholders and relevant parties. 4. Managing the business with constant awareness of risk factors by applying suitable risk management and control system 5. Preparing and putting into action the guidelines of business ethics practices governing proper actions of directors, management, and employees of the company in dealing with the company. 13.Audit Committee evaluated the quality of internal control of 5 areas ; Organization and Environment, Risk management, Operation control, Information system and communication, and Work follow-up system including business transaction with major shareholder Board of director Management or related person were adequate appropriate. 14.Other matters : Please be informed accordingly. Very truly yours, (Mr. Huang Kuan-Chiun)( Dr.Phietoon Trivijitkasem) Authorized Director