T R I S R A T I N G S Company Debt Instruments Rating FINANCIAL INSTITUTIONS 1. GE Capital Auto Lease Sr debt: A 2. Industrial Finance Corporation of Thailand Sr debt: A- 3. Kiatnakin Finance Sr debt: BBB CORPORATES 4. Acumen ACUMEN#1: Bt3,500 mil sr secrd deb due 2004 BBB+ 5. International Engineering IEC@1: Bt1,200 mil sr conv deb due 2000 Restructured 6. Italian-Thai Development ITD#1: Bt3,500 mil sr deb due 2005 BBB 7. Khanom Electricity Generating Co. KEGCO#1: Bt7,500 mil sr secrd deb due 2011 A- 8. LSPV Sr debt: A- 9. Property Perfect PERFEC#2: Bt1,500 mil sr deb due 1998 Restructured 10. Shin Satellite SATTEL#2: Bt3,000 mil sr deb due 2002 BBB+ 11. Tipco Asphalt TASCO@1: Bt1,300 mil sr conv deb due 2000 BBB- 12. United Communication Industry UCOM#1: Bt5,000 mil sr deb due 2000 BB STATE ENTERPRISES 13. Aeronautical Radio of Thailand Sr debt: A+Date of last rating announcement: 3 February 2000