Bangkok--July 11--Bangkok Metropolitan Bank News intended for negative effect against Bangkok Metropolitan Bank is firmly countered by the Bank's top management today as Udane Tejapaibul, the Bank's Board Chairman and Thailand's most senior banker, confirms in his statement that he will not let the Bank go down after 47 years of hard work and that the debt of a little over Bht 1,600 million was already paid back to the Bank by Don Muang Tollway this morning. The top management of the Bangkok Metropolitan Bank has been concerned with rumours recently circulated in Bangkok and picked up by the media which mostly gave negative views against the Bank. To ward off groundless rumours and unfounded pieces of news about the Bank's deteriorated position, Mr. Udane Tejapaibul, BMB's Chairman of the Board of Directors told reporters this morning that "The rumours about the Bank beging badly affected by bad debts and might go under were totally groundless. Bangkok Metropolitan Bank is healthy enough and still in a working position. All customers can normally use the Bank's services to deposit or withdraw any amount from their accounts. Those who have been the Bank's borrowing customers or using any credit facilities are welcome to do business with the Bank as needed and other services are available to the public as usual." BMB in early April last has its registered capital increased to Bht 15,000 million, up by Bht 5,182.91 million. Out of the rights issue offer of 218.29 million shares at par value of Bht 10 each, 55.22% of the shares were subscribed. The Bank also set aside 300 million shares, also at Bht 10 each, for private placement which up to now found 3 interested financial institutions from abroad. The Bank is now studying their conditions and other details before making its final decision which is expected shortly. "It is normal for the Bank's lending operations to face with bad debts but we have been earnestly follow up and serious in debt recovery procedure to minimise our loss on bad debts. We have done everything as needed by the best practice in debt management as accepted in the banking business. Most of our loans granted to customers were fully secured against valuable collaterals. We have exercised a very careful approach in our lending operations since early 1997 and actively managed our lending portfolios for timely debt service by our customers. The result has been very satisfactory. Today, we are paid back by Don Muang Tollway Co. for Bht 1,637 million covering all our outstanding credit to them. This makes a highly significant improvement in our non-performing loans position." commented Mr. Udane in his confident tone. As the most senior banker in Thailand's banking industry, Udane Tejapaibul has interest in a number of businesses and investment projects. He is a well-respected tycoon in his own right among business circles at home and abroad. With a firm voice Mr. Udane said "I was one of the Bank's original founders and has involved with its management for 47 years until now. How can I allow anything undesirable to happen to this Bank?" End.