Ratchaburi Holding Already Owns 37.5% Shares in Tri Energy and Appoints Mr. Pala Sookawesh as the Chairman

Bangkok--Nov 17--Ratchaburi Electricity Generating Holding PCL Ratchaburi Electricity Generating Holding Public Company Limited [SET symbol: RATCH] has already success in investment in Tri Energy Power Plant through acquiring Banpu Gas Power Company Limited (“Banpu Gas”) which owns 37.5% in Tri Energy CompanyLimited (“Tri Energy”). On November 7, 2003, the company has signed the Share Sale and Purchase Agreement with Banpu Power Company Limited (“Banpu Power”) and Synergy Power Company Limited (“Synergy Power”), which are shareholders of Banpu Gas and subsidiaries of Banpu Public Company Limited. The company and Banpu Public Company Limited also have signed the Cooperation Agreement to align strategic alliance in the power generation and distribution business on the basis to maximize mutual benefits for each both in the future. On November 14, 2003, the company has recently given the payment of 2,100 Million Baht to Banpu Power and Synergy Power and consequently has received the transfer of 50 million common shares of Banpu Gas. This transaction results the company to become 100% shareholder of Banpu Gas that thereafter it will be renamed. The acquisition of Banpu Gas officially gives the company the right to control 12,838,875 shares or equivalent to 37.5% in Tri Energy and has the right to send 4 out of 11 representatives to post in the Board of Directors of Tri Energy namely; Mr. Pala Sookawesh as the Chairman of Directors, Mr.Boonchoo Direksathapon as a Director, Ms. Vajana Angsukomutkul as aDirector and Mr. Vatchara Noomahan as a Director and Managing Director. The company immediately can record the income at 37.5% received from an operating performance year 2003 of Tri Energy. Mr. Boonchoo Direksathapon, Managing Director of Ratchaburi Electricity Generating Holding PCL. said “the company is delighted to the success of this negotiation because it is the significant pace to enhance our company’s growth and value-added to the shareholders which is our major mission. Additionally, it is a beginning of the cooperation between thecompany and Banpu Group to join force as strategic alliance in order to increase and strengthen our business competitiveness in the power generation.” Tri Energy Company Limited established on March 8, 1995. It operates 700 megawatts gas-fired combined cycle located in Amphur Muang, Ratchaburi province,. On May 22, 1997, Tri Energy has signed the 20-year Power Purchase Agreement (PPA) with Electricity Generating Authority of Thailand (EGAT) and has commercially operated on July 1, 2000. It has received theincome tax privilege for 8 years in accordance with the Act of Investment Promotion B.E. 2520, since it operates. For more information, please contact: Public Relation Department, Ratchaburi Electricity Generating Holding PCL Wiwan Phayakvichien / Saowanee Limchareon Tel: 0 2978 5061-3 Fax: 0 2937 9321 E-mails: [email protected] , [email protected] End. -RK-

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