Bangkok--Oct 14--Weber Shandwick Thailand Thai Oil Public Company Limited announced a share offering price of 32 baht per share, the largest IPO ever in Thailand. Thaioil’s executives are confident that the offered price is best suited the investors’ demand and the current market situation. The company plans to offer an additional 60 million shares to retail investors. Thaioil shares are expected to commence trading on the Stock Exchange of Thailand on October 26, 2004. Mr. Somkeirt Hudthagosol, Deputy Managing Director — Business / Human Resources of Thai Oil Public Company Limited, Thailand’s largest refinery operator and petroleum product supplier, said “The final price was agreed based upon the bookbuilding result, conducted by Thaioil together with certain shareholders of the company and the offering’s international and domestic underwriters. We believe that the IPO price is appropriate for the current market sentiment and the level of interest received from both local and foreign institutional investors; the offering was 29 times oversubscribed. Out of over 400 institutional investors whom participated in the roadshow, over 90 percent submitted orders for Thaioil’s IPO shares. This is considered a very high percentage of acceptances.” Somkeirt added that “Thaioil’s executives and the company’s underwriters have considered offering an additional 107.8 million shares from the Overallotment Option as follows: Retail investors 60.0 million shares Local financial institutions 7.3 million shares Foreign financial institutions 40.5 million shares” With respect to the Overallotment Option totaling 60 million shares for retail investors, 60,000 additional subscription forms will be selected randomly. Each selected subscription form will be eligible to receive 1,000 shares. This decision allocate additional shares to retail investors is to show appreciation for the high level of interest that the public has indicated and to increase the opportunity for the larger public to participate in investing in Thaioil. Including shares from the Overallotment Option, Thaioil will be offering a total of 1,017.7 million shares raising Baht 32,566 million making it the largest ever IPO in Thailand. “For retail investors who had submitted subscription forms at KASIKORNBANK and Thai Military Bank, Settrade.Com Company Limited will randomly select the subscription forms both for the existing 60 million shares and the additional 60 million shares. The list of successful subscribers is expected to be announced now later than noon of October 14, 2004. Results can checked at www.settrade.com or at KASIKORNBANK and Thai Military Bank branches, or by calling the Thaioil IPO Public Relations Center at 1142 and asking for Thaioil stocks. For unsuccessful subscribers, the sale agents will process the return of subscription monies with 14 days of the last subscription date through the process described in the subscription forms”, Mr. Somkeirt said. The shares of Thai Oil Public Company Limited is expected to begin trading on the Stock Exchange of Thailand on October 26, 2004, under the ticker symbol “TOP” Note to editors: Founded on August 3, 1961, Thai Oil Public Company Limited owns and operates the largest single-unit complex refineries in Thailand. Currently PTT Public Company Limited holds a 49.99 percent share in Thai Oil Public Company Limited. For more information please contact: Ms. Tippawan Wortong/ Ms. Jensiree Esaparn Public Relations Consultant, Weber Shandwick Thailand Tel. 02 257 0300 ext. 333-334 Email: [email protected] / [email protected] End.--InfoQuest (NT)--