[Translation] Ref. PDI/BK-02-010/2005 25 February 2005 To : President The Stock Exchange of Thailand Re. : Resolutions of the board of directors meeting, No. 01-2005 The board of directors of Padaeng Industry Public Company Limited at its meeting, No. 01-2005 on 25 February 2005 has adopted the following resolutions: 1. Reviewed 2004 draft financial statements and resolved to propose the financial statements (audited) for approval at the next AGM. 2. Approved the appropriation of the net profit of the year 2004 to Legal Reserve amounted to 11,081,477 Baht and dividend payment for 2004 at 0.40 Baht per share amounted to 90,400,000 Baht, which be allocated to the shareholders whose names appeared on the shareholders list closing on Monday 9 May 2005. This will be submit for final approval in the AGM. 3. Approved the 2004 director bonus as follows: Chairman 150,000 Baht, director 100,000 Baht to be approved in the final AGM meeting. 4. Noted 4 board members who will be due to retire by rotation namely Mr. Kosit Panpiemras, Mr. Karel Vinck, Mr. Michel Moser and Mrs. Sirinuj Bisonyabut and will propose to the AGM the re-election of Mr. Kosit Panpiemras, Mr. Karel Vinck and Mrs. Sirinuj Bisonyabut as directors for another term as well as propose the replacement for Mr. Michel Moser for final approval in the AGM. 5. Confirm the appointment of Pricewaterhouse Coopers ABAS Limited as the companys auditors for 2005 as well as audit fees for the shareholders approval. 6. Approve to convene the 2005 ordinary shareholders meeting on Tuesday, 26 April 2005 at 14.00 hr at Ballroom Hall, 1st Floor, the Sukhothai Hotel, 13/3 South Sathorn Road, Sathorn Distric, Bangkok, with the following agenda: I. Subject to be informed by the Chairman of the Board of Directors (if any); II. Approve minutes of the 2004 Ordinary Shareholders' Meeting held on 23 April 2004; III. Annual Report of the Board of Directors for the year 2004; IV. Approve the audited balance sheet and profit and loss statement for 2004; V. Approve the net profit appropriation and dividend payment for 2004; VI. Elect new members of the board of directors to replace those who retired by rotation, acknowledge the appointment of the Audit Committee members and acknowledge the appointment of the new directors; VII. Approve the 2004 bonus payment to the board; VIII Confirm the appointment of the company's auditors for the year 2005 and approve the audit fees; IX. Other matter (if any). The company's share transfer book will be closed on Tuesday, 5 April 2005 from 12.00 hr until the meeting is adjourned for determination of the Shareholders' meeting participation right. Please be notified accordingly. Yours truly, - Signature - (Pinit Vongmasa) Chief Executive Officer Board Secretary Division Tel. 02 661 9900 Ext. 1501, 1402 Fax 02 661 9946