รายงานต่อตลาดหลักทรัพย์ฯ

January 15, 2003 Subject: Resolution on transformation of subsidiary To: The Directors and Manager The Stock Exchange of Thailand BEC World Public Company Limited hereby notify the resolution of the Board of Directors Meeting of the company No. 1/2003 which was held on January 15, 2003 as follows: 1. It was resolved approval of the transformation to become a public company limited of BEC-TERO Entertainment Co., Ltd. (BEC-TERO), the subsidiary company of the company which the Company held 60% of its registered and paid-up capital in order to list such shares in the Stock Exchange of Thailand. It was further resolved approval of the transformation plan of BEC-TERO. 2. It was resolved approval of the plan to change the par value of BEC-TERO from Baht 10.- to Baht 1.- and the plan to increase the capital by Baht 240 Million by issuing new 240 Million shares at the par value of Baht 1.- each. Such newly issued shares shall be allotted as follows: a) 190 Million shares at the par value of Baht 1.- each shall be allotted to the existing shareholders at the current shareholding ratio. b) 50 Million shares at the par value of Baht 1.- each shall be allotted to the public. BEC-TERO shall authorize its Board of Directors to consider and fix the selling price and the subscription period as the Board deems appropriate. 3. It was resolved approval of the Company's investment in the additional share capital of BEC-TERO, which was allotted to the Company, and the shares unsubscribed by the other existing shareholders, if any. Please informed accordingly. Sincerely Yours, (Chatchai Thiamtong) Vice President - Finance