PDI ANNOUCES BOARD RESOLUTIONS Padaeng Industry Co Ltd (PDI) reported its board of directors' resolution on March 25, 1994. Details are as follows: 1. To seek the approval from its board on April 28, 1994 to allocate net profit and dividends for the year-end payment of 1993 at Bt1.10 per share (as opposed to the earlier dividend payments decision on March 18, 1994 to pay Bt1.00 per share) for 104 million shares, totalling Bt114.40 million. 2. To approve share payment to Padaeng Pungsan Metals Co Ltd, an affiliate of PDI, for the purpose of maintaining a 49% stake of Padaeng Pungsan Co Ltd, on account of its capital increase of Bt298 million to Bt800 million. The payment, which comes from PDI's capital, is valued at Bt146.02 million. 3. To approve a joint-venture project with US company, Phelps Dodge Mining Company, for investigation and operation of copper mining in Loei province, and neighboring provinces. The project will investigate copper in sites No. 1, 2 and 3, which previously has operated only gold mining. Mining sites No. 1, 2 and 3 are held by Pacome Exploration and Mining Co, Pathong Exploration and Mining Co and Puthep Co respectively. Presently, PDI holds a 100% stake of Pacome, Pathong, and Puthep companies. PDI will transfer 100% of its 500,000 shares of Pacome company at Bt100 par and all of its 500,000 Pathong company shares at Bt62.50 par, to Puthep Co, which will then maintain full charge of operations for the new project. Total assets sold amount to Bt62.50 million. 4. To cancel the 2nd zinc smelting plant project, a joint-venture with foreign company, Metallgesellschaft AG (MG), as MG withdrew funds for this project because of financial problems and the perceived global downtrend in demand for zinc. Therefore, the Board agreed to cancel this project by purchasing the 49% stake of shares back from MG at Net Asset Value. 5. To expand its zinc production capacity in Tak province due to the increase in local demand for zinc, and because the zinc-tin smelting plant project of South East Asia Metals Co Ltd was cancelled. Thus, the Board approved to increase capactity by 20-30% from the original production of 70,000 tons a year to 90,000-100,000 tons per year. This process will be finished by March, 1995