SET Releases

(Translation) No. Tor Hor. 023/2009 May 12, 2009 Subject : Report on changing in financial assistance to Erawan Textile Co., Ltd., which is a connected Party Attention : Director and General Manager The Stock Exchange of Thailand Thanulux Public Company Limited's Board of Directors' meeting no. 2/2009 on May 12, 2009 had the resolution, authorizing the company to change in financial assistance to Erawan Textile Co., Ltd., which is a connected party, from providing loan in accordance with investment ratio Baht124.73 million to providing loan Baht70.00 million, due to Erawan Textile Co., Ltd. changing its monetary management policy effected to the structure of financial assistance, details as follows: 1. Transaction date : Within May, 2009 2. Parties involved financial assistance providing party : Thanulux Public Co., Ltd. financial assistance requesting party : Erawan Textile Co.,Ltd. 3. Details on relationship nature of connected parties : Saha Pathana Inter-Holding Plc. : current shareholding 23.517% shares in Thanulux Plc.and 15.18% shares in Erawan Textile Co., Ltd. I.C.C.International Plc. : current shareholding 10.022% shares in Thanulux Plc.and 15.18% shares in Erawan Textile Co., Ltd. 4. Transaction general description Type of transaction : Provision of financial assistance to connected parties by providing loan limitation Baht70.00 million. Transaction volume : This transaction is considered to be the connected transaction as prescribed in The Notification of The Stock Exchange of Thailand on Disclosure of The Information and Operation of The Listed Company in categories of connected transactions 2546 as the category no. 5 Provide or receive a financial assistance which less than Baht100.00 million or less than 3% of net tangible asset value. As December 31, 2008 the 3% of net tangible asset value equal to Baht 76.46 million whichever is lower. This transaction must be approved by the Board of Directors and disclose to The Stock Exchange of Thailand. 5. The details of transaction Company requesting financial assistance : Erawan Textile Co.,Ltd. Registered capital : Baht 181,831,600 classified Into 1,818,316 shares par value of Baht 100 each, fully paid Business type : Textile spinning and weaving Transaction rationale : change in financial assistance from providing loan in accordance with investment ratio Baht124.73 million to providing loan Baht70.00 million (Baht 54.73 million reduction) General trading terms : calculate Interest by using interest rate of Commercial bank's 1-year fixed deposit rate plus increment as specified by the company Payment term : Upon request 6. Transaction rationale : The Company wished to provide support to further facilitate it's operations. In addition, the company will get highest benefit from monetary management. 7. Funding source : Company's working capital. 8. Directors with possible conflict of interests : Mr.Boonsithi Chokwatana and Mr.Manu Leelanuwatana had left the meeting and not vote on this agenda. 9. Opinion by The Board of Directors : Resolved to change in financial assistance provide to Erawan Textile Co., Ltd., to reduce the loan that to reduce the risk of The Company and due to the borrower is the upstream business of The Company so as to support it's operations subsequent to The Company investment in said company. And to facilitate the company's available cash management in such manner best maximizing its return and benefits, which have not any effect to The Company's working capital. 10. Opinions by The Audit Committee and/or Director with significant differences from the board of directors. : - None- Please kindly acknowledge the above matters. Faithfully Yours, Dusadee Soontrontumrong (Miss Dusadee Soontrontumrong) Deputy managing director