SET Releases

(Translation) No. Tor.Hor. 016/2004 April 20, 2004 Subject : Resolution of The Executive Board's Meeting No. 4/2004 Attention : Director and Manager of The Stock Exchange of Thailand The Executive Board's meeting of Thanulux Public Company Limited No. 4/2004 held on April 19, 2004 and The Audit Committee meeting No. 4/2004 held on April 20, 2004 approved loan to connected persons following resolutions: 1. The date on which the transaction occurred : May 2004 2. The parties involved Lender : Thanulux Public Company Limited Borrower: Thai Asahi Kazei Spandex Co., Ltd. 3. The general characteristics of the transaction : The category for financial assistance transaction. 4. General transaction description : 4.1 The company name : Thai Asahi Kazei Spandex Co., Ltd. 4.2 The nature of the business : Manufacture of spandex filament 4.3 Registered capital : Baht 520 million, fully paid-up 4.4 The term of loan : Promissory note in the term of 6 months with interest rate 1.6% p.a. 4.5 Total value : The amount is not more than Baht 20.8 million which is the proportion of investment. 4.6 Transaction rationale : To support the joint venture and the companies which are our supply chain. 4.7 The sources of funds : Company's working capital 4.8 Details of relating and connecting persons : Saha Pathana Inter-Holding Plc. Holds in Thanulux Plc. 23.52% Holds in Thai Asahi Kazei Spandex Co., Ltd. 6.00% I.C.C. International Plc. Holds in Thanulux Plc. 10.02% Holds in Thai Asahi Kazei Spandex Co., Ltd. 4.00% 4.9 Shareholder list of Thai Asahi Kazei Spandex Co., Ltd. 1. Asahi Kasei Fibers Corporation 60% 2. Wacoal Corporation 19% 3. Saha Pathana Inter-Holding Plc. 6% 4. Textile Prestige Plc. 5% 5. I.C.C. International Plc. 4% 6. Thanulux Plc. 4% 7. Thai Wacoal Plc. 2% 5. Interested directors not attend the meeting and not vote : -None- 6. Opinions by the company's Executive Board and The Audit Committee : Agree the loan for strengthening the joint venture company's financial situations, support our company's business and we will get benefit from financial management. The interest rate is 1.6% p.a. 7. The volume of the transaction : This transaction is considered to be a transaction prescribed in the notification of the Stock Exchange of Thailand about disclosure the information and operation of the listed company in categories of connected transactions B.E. 2546 as the category for financial assistance transaction, which will be not excess Baht 20.8 million which is the proportion of investment (=1.15% of NTA), it must be approved from the Board of Director and to disclose the information to Stock Exchange of Thailand by it did not approve from the shareholders. Please kindly acknowledge the above matters. Faithfully Yours, Dusadee Soontrontumrong (Miss Dusadee Soontrontumrong) Director