SET Releases

(Translation) No. Tor Hor. 049/2002 December 11, 2002 Subject : To announce a connected transaction Attention : Director and General Manager of The Stock Exchange of Thailand Thanulux Public Company Limited would like to announce that the board of director's meeting No. 12/2002 was held on December 11, 2002 and passed resolutions concerning a connected transaction of buying common shares. The details are as follows: 1. The date on which the transaction occurred : December 11, 2002 2. The parties involved Buyer : Thanulux Public Company Limited is the garment and leathergoods business Seller : Champ Ace Co., Ltd. is the garment Relationship with seller: Co-Director : We have the same shareholder-SPI which holds 23.52% in TNL and 22.50% in Champ Ace Co., Ltd. Seller : I. C. C. international Public Company Limited is the cosmetics and apparel business Relationship with seller: Co-Director : We have the same shareholder-SPI which holds 23.52% in TNL and 20.26% in ICC Seller : Brunswick (Thailand) Co., Ltd. is the investment Relationship with seller: None 3. The general characteristics of the transaction : Acquisition ordinary shares of Brunswick Siam Co., Ltd. 4. The details of assets acquired : Securities 4.1 The company name : Brunswick Siam Co., Ltd. 4.2 The nature of the business : Place for playing bowling 4.3 Registered capital : Baht 360,000,000, classified into 3,600,000 shares, of value Baht 100 each 4.4 Paid-up capital : 3,600,000 shares 4.5 Number of securities acquired : - Buy from Champ Ace Co., Ltd. 70,560 shares value Baht 56.41 per share amount to Baht 3,980,290.00 - Buy from I. C. C. international Public Company Limited 7,200 shares value Baht 58.61 per share amount to Baht 422,000.00 - Buy from Brunswick (Thailand) Co., Ltd. 66,240 shares value Baht 60.96 per share amount to Baht 4,037,990.00 - B.V. at October 31, 2002 = Baht 95.17 per share 4.6 Proportion of securities holding before : 0% of paid-up capital 4.7 Proportion of securities holding after : 4% of paid-up capital 5. The total value of the consideration : Baht 8,440,280.00 The type of payment : Cash payment 6. The value of the assets acquired : 144,000 ordinary shares of Brunswick Siam Co., Ltd. amounts to Baht 8,440,280.00 7. The objective to purchase and the : Good potential business and high liquidity benefit expected to receive Dividend 8. The sources of funds : Company's working capital 9. The details of the connected persons and of related persons : Names Position in the company - Mr. Boonsithi Chokwatana - President of Thanulux Public Company Limited - Vice President of I. C. C. international Public Company Limited - Director of Champ Ace Co., Ltd. - Mrs. Varindr Leelanuwatana - Deputy Managing Director of Thanulux Public Company Limited - Director of Champ Ace Co., Ltd. - Mr. Somphol Chaisiriroj - Director of Thanulux Public Company Limited - Director of I. C. C. international Public Company Limited 10. The volume of the transaction : This transaction has not considered as the transaction prescribed in the notification of The Stock Exchange of Thailand on Re: Rules, procedures and disclosure of information concerning the execution and disposition of assets of listed company : 0.30% considered as the transaction prescribed in the notification of The Stock Exchange of Thailand Re: Rules, Procedures and disclosure of connected transactions of listed companies. Please kindly acknowledge the above matters. Faithfully Yours, Dusadee Soontrontumrong (Miss Dusadee Soontrontumrong) Director