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(Translation) No. Tor.Hor. 043/2001 October 15, 2001 Subject : Report on resolution of the Board of Directors' meeting No.10/2001 Attention : Director and Manager of Stock Exchange of Thailand The Board of Directors of Thanulux Public Company Limited unanimously resolved at its meeting No. 10/2001, held on October 15, 2001, to adopt resolutions as follows: 1. Resolution to purchase ordinary shares from International Commercial Coordination Ltd. to transaction details as follows: Transaction date: October 15, 2001 Parties involved Buyer : Thanulux Public Company Limited Seller : International Commercial Coordination Ltd. Detail of securities acquired : Securities Business Registered Capital Par value Pre-transaction % Issuer Type (million Baht) Share Shareholding Sahapat Real Estate Real Estate 250.0 10,000,000 25.- 0.00 Development Remuneration value : Ordinary share Share number Book Price value amount Post transaction % acquired Sahapat Real Estate 200,000 25.- 5,000,000.- 2.00 Details of connecting and relating persons : Name Position in the company 1. Mr. Boonsithi Chokwatana President of Thanulux Public Company Limited President of International Commercial Coordination Ltd. 2. Mr. Manu Leelanuwatana Vice President of Thanulux Public Company Limited Director of International Commercial Coordination Ltd. Expected benefits : Dividend payment Funding sourece : Capital flow from the company's operations 2. Resolution was passed to allow the company to invest in Miwaki Philippines, Inc., as following details : Transaction dated : October 15, 2001 Company Name : Miwaki Philippines, Inc., Type of business : Leathersware distributor in Philippines Registered capital : USD 200,000 Investment ratio : 19% of registered capital, totalling USD 38,000 Funding sourece : Capital flow from the company's operations Relationship with seller: None Size of transaction : Not in line with regulation of acquiring or disposition of listed company's assets Expected benefits : Dividend payment and export's expansion in Asia Please kindly be informed accordingly Yours sincerely, (Miss Dusadee Soontrontumrong) Director