Company Rating/Outlook CreditAlertFINANCIAL INSTITUTIONS1. Bank of Ayudhya PLC Company A-/Positive BAY13NA: Bt12,000 mil sub debs due 2013 BBB+2. GE Capital Auto Lease PLC Bt30,000 mil guaranteed debs under medium-term note (MTN) program AAA/Stable - GECL077A: Bt6,000 mil guaranteed debs due 2007 AAA - Up to Bt400 mil guaranteed debs due 2008 AAA3. Hi-Way Co., Ltd. Company BBB+/Stable HWAY069A: Bt400 mil sr debs due 2006 BBB+4. KGI Securities (Thailand) PLC Company BBB/Stable 5. Kiatnakin Finance PLC Company BBB+/Positive KK069A: Bt1,500 mil sr debs 1/2002 tranche 1 due 2006 BBB+ KK079A: Bt1,000 mil sr debs 1/2002 tranche 2 due 2007 BBB+ KK073A: Bt1,000 mil sr debs 2/2002 due 2007 BBB+ KK087A: Bt3,000 mil sr debs due 2008 BBB+6. Krungthai Card PLC Company A-/Stable KTC064A: Bt5,000 mil sr debs due 2006 A- Bt4,000 mil sr debs due 2007 A- Bt1,000 mil sr debs due 2009 A-7. Nava Leasing PLC Company BBB/Negative NVL063A: Bt1,200 mil sr secrd debs due 2006 BBB+ 8. Phatra Leasing PLC Company BBB+/Stable PL04DA: Bt400 mil sr debs due 2004 BBB+ PL066A: Bt900 mil sr debs due 2006 BBB+ Up to Bt400 mil sr debs due 2007 BBB+9.Ratchthani Leasing PLC TANI078A: Bt1,000 mil sr secrd debs due 2007 BBB/Stable 10.SIAM A&C CO., LTD. Company BBB+/Stable SANC05DA: Bt2,000 mil guaranteed debs due 2005 AA Bt1,000 mil B/E due 2007 BBB+11. Siam Panich Leasing PLC Company A-/Stable SPL055A: Bt3,500 mil sr debs due 2005 A- SPL063A: Bt3,000 mil sr debs due 2006 A- SPL073A: Bt3,500 mil sr debs due 2007 A- SPL073B: Bt3,500 mil sr debs due 2007 A- Bt300 mil B/E due 2007 A- 12. Thai Commercial Auto Co., Ltd. Company BBB+/Stable Bt1,200 mil sr debs due 2006 BBB+13. Thai Military Bank PLC Company BBB-/Positive TMB07NA: Bt6,000 mil sub debs due 2007 BB+ 14. Tisco Finance PLC Company A/Positive TSCO077A: Bt2,000 mil sr debs due 2007 A TSCO077B: Bt1,000 mil sr debs due 2007 A TSCO07OA: Bt1,800 mil sr debs due 2007 A15. TSFC Securities Ltd. Company A-/Positive Up to Bt1,000 mil sub debs due 2009 BBB+CORPORATES16. Advanced Info Service PLC Company AA/Stable AIS063A: Bt12,000 mil sr debs due 2006 AA AIS04NA: Bt5,000 mil sr debs due 2004 AA AIS06NA: Bt10,000 mil sr debs due 2006 AA AIS073A: Bt3,000 mil sr debs due 2007 AA AIS093A: Bt2,500 mil sr debs due 2009 AA AIS093B: Bt4,500 mil sr debs due 2009 AA AIS07OA: Bt5,000 mil sr debs due 2007 AA17. Asia Multimedia Co., Ltd. Company BBB/Stable18. Banpu PLC Company A/Stable BP064A: Bt2,500 mil sr debs due 2006 A BP084A: Bt500 mil sr debs due 2008 A BP082A: Bt3,000 mil sr debs due 2008 A BP111A: Bt1,500 mil sr debs due 2011 A BP093A: Bt500 mil sr debs due 2009 A Up to Bt2,750 mil sr debs due 2010 A19. Central Pattana PLC Company A-/Positive CPN066A: Bt1,000 mil sr debs due 2006 A- CPN093A: Bt1,000 mil sr debs due 2009 A- CPN10DA: Bt1,500 mil sr debs due 2010 A- 20. Charoen Pokphand Foods PLC Company A/Stable CPF063A: Bt7,000 mil sr debs due 2006 A21. CH. Karnchang PLC Company A-/Stable22. Eastern Water Resources Development and Management PLC Company A+/Stable Bt1,500 mil sr debs due 2008 A+ Bt1,000 mil sr debs due 2011 A+23. Glow SPP PLC Company A-/Stable COCO#1: Bt2,200 mil sr debs due 2005 A- GLOW089A: Bt6,500 million guaranteed debentures due 2008 A- GLOW09OA: Bt2,310 million guaranteed debentures due 2009 A- GLOW10DA: Bt3,490 million guaranteed debentures due 2010 A-24. Golden Land Property Development PLC GOLD05OA: Bt1,100 mil sr secrd debs due 2005 BBB/Stable GOLD088A: Bt1,100 mil sr secrd debs due 2008 BBB25. Home Product Center PLC Company BBB/Positive 26. I.C.C. International PLC Company AA-/Stable 27. Khanom Electricity Generating Co., Ltd. KEGCO#1: Bt7,500 mil sr secrd debs due 2011 A+/Stable 28. Lalin Property PLC LALI077A: Bt400 mil sr debs due 2007 BBB+/Stable Bt400 mil sr debs due 2007 BBB+29. Land & Houses PLC LH06DA: Bt1,500 mil sr secrd debs due 2006 A+/Stable LH063A: Bt1,000 mil sr debs due 2006 A LH073A: Bt1,000 mil sr debs due 2007 A LH083A: Bt1,000 mil sr debs due 2008 A30. Loxley PLC Company BBB+/Stable LOXL06NA: Bt1,000 mil sr debs due 2006 BBB+ LOXL08NA: Bt1,000 mil sr debs due 2008 BBB+31. Nation Multimedia Group PLC Company BBB/Stable NMG043A: Bt1,200 mil sr debs due 2004 BBB NMG055A: Bt1,000 mil sr debs due 2005 BBB NMG072A: Bt600 mil sr debs due 2007 BBB NMG092A: Bt1,000 mil sr debs due 2009 BBB 32. Nestle (Thai) Ltd. NTH086A: Bt5,000 mil guaranteed debs due 2008 AAA/Stable33. Noble Development PLC Company BBB/Stable NOBL06NA: Bt1,000 mil sr debs due 2006 BBB 34. Premier Resort Krabi Co., Ltd. PRK081A: Bt850 mil sr secrd debs due 2007 BBB/Negative35. Preuksa Real Estate Co., Ltd. Company BBB/Stable PS069A: Bt500 mil sr debs due 2006 BBB Bt100 mil B/E due 2007 BBB Bt120 mil B/E due 2005 BBB36. Quality Houses PLC Company BBB+/Stable QH064A: Bt584 mil sr debs due 2006 BBB QH074A: Bt917 mil sr debs due 2007 BBB QH084A: Bt499 mil sr debs 2008 BBB37.Ratchaburi Electricity Generating Co., Ltd. Company AA-/Stable38. Ratchaburi Electricity Generating Holding PLC Company A+/Stable39. Regional Container Lines PLC Company BBB+/Stable RCL096A: Bt2,500 mil sr debs BBB40. Royal Garden Resort PLC Company A-/Stable RGR078A: Bt1,700 mil sr debs due 2007 A- RGR10DA: Bt1,000 mil sr debs due 2011 A- 41. Saha Pathana Inter-Holding PLC Company A/Stable SPI071A: Bt1,000 mil sr debs due 2006 A42. Sansiri PLC Company BBB43. Seacon Development PLC SCON047A: Bt650 mil sr secrd debs due 2004 A-/Stable SCON061A: Bt550 mil sr secrd debs due 2006 A-44. Shin Corporation PLC Company AA-/Stable SHIN075A: Bt3,000 mil sr debs due 2007 AA-45. Siam DR Co., Ltd. Bt4,000 mil depositary receipts on Bangchak Petroleum PLC's subordinated convertible debs due 2014 AA/Stable46. Sino-Thai Engineering & Construction PLC Company BBB+/Stable47. Total Access Communication PLC Company A-/Stable TAC05OA: Bt6,000 mil sr debs due 2005 A- TAC064A: Bt15,000 mil sr debs due 2006 A- TAC09OA: Bt4,000 mil sr debs due 2009 A- TAC09OB: Bt1,000 mil sr debs due 2009 A- TAC089A: Bt3,000 mil sr debs due 2008 A- TAC089B: Bt2,500 mil sr debs due 2008 A- TAC109A: Bt3,500 mil sr debs due 2010 A-48. TPI Polene PLC Company BBB-/Stable49. True Corporation PLC Company BBB/Stable TRUE087A: Bt11,715.40 mil sr secrd debs due 2008 BBB TRUE112A: Bt6,750 mil sr secrd partially guaranteed debs due 2011 A TRUE07OA: Bt3,319 mil sr secrd debs due 2007 BBB TRUE#4: Up to Bt2,402.7 mill se secrd debs due 2011 BBB 50. Unilever Thai Trading Ltd. UTT07DA: Bt6,500 mil guaranteed debs due 2007 AAA/Stable UTT083A: Bt4,000 mil guaranteed debs due 2008 AAA51. United Communicaton Industry PLC Company BBB/Stable52. United Farmer & Industry Co., Ltd. Company BBB+/Stable53. Vinythai PLC Company BBB/Positive VNT068A: Bt7,400 mil sr secrd debs due 2006 BBB54. Wiik & Hoeglund PLC Company A-/NegativeSTATE ENTERPRISES55. Aeronautical Radio of Thailand Ltd. Company AA/Stable 56. PTT Exploration and Production PLC Company AA+/Positive PTEP183A: Bt2,500 mil sr debs due 2018 AA+ 57. Small and Medium Enterprise Development Bank of Thailand Company A+/Stable SME087A: Bt5,000 mil sr debs due 2008 A+58. Thai Airways International PLC Company AA-/Stable THAI08OA: Bt5,500 mil sr debs due 2008 AA- THAI10OA: Bt4,500 mil sr debs due 2010 AA- THAI#3: Up to Bt12,000 mil sr debs due 2009 and 2011 AA- Note: Rating Outlooks assigned to all financial and corporate issuers are generally applicable to all debt obligations of the relevant issuers unless otherwise noted.