CAPITAL INCREASE REPORT ADVANCED INFO SERVICE PLC. 6 JANUARY 1999 Advanced Info Service Plc. board of directors meeting no. 1/1999 held on January 6, 1999 from 10.00 a.m. to 11.00 a.m. passed a resolution in respect of a capital increase/share allotment. The details are as follows : 1. Capital increase : The Board of Directors have approved to increase paid-up capital from Bt 2,340 million to Bt 2,700 million by issuing new 36 million common shares at par value of Bt 10 which total amount of capital increase is Bt 360 million. 2. Allotment of new shares : The Board of Directors have approved to allot 36 million new shares at par value of Bt 10 of which total amount capital increase is Bt 360 million : 2.1 The details of allotment of new shares Allotment to Number Ratio Sale price Subscription Remarks of (Old:New) per share and shares (Baht) payment period Singapore 36 million - 230 19 Februaru 1999 - Telecom Inter- shares or other date as national may be agreed by Private Limited the parties The profile of Singapore Telecom International Private Limited Singapore Telecom International Pte. Ltd. (STI) was formed in 1988 as a wholly-owned subsidiary of Singapore Telecommunications Limited to spearhead its international investments. STIs main focus includes forming strategic alliances and operating services through joint ventures with overseas companies in telecommunications, and other related industries. STI currently has 20 investments in 11 countries including China, the Philippines, Indonesia, Australia, Norway, Thailand and Vietnam. It is pursuing investment opportunities worldwide and especially in the Asia Pacific. 2.2 The companys plan in case there is a fraction of shares remaining : Depend on the determination of the directors and/or any persons whom assigned by directors. 2.3 The un-allotted remaining shars : 230 million shares at par value of Bt 10 which total amount is Baht 2,300 million 3. Schedule for shareholders meeting : An ordinary/extraordinary meeting of shareholders no. 1/1999 is scheduled to be held on February 10, 1999 at 1.30 p.m. at Auditorium room, 19th floor Shinawatra Tower. The share register will be closed for share transferring in order to determine the right to join this meeting at 12.00 p.m. on January 21, 1999 until the meeting has been duly convened. 4. Approval by relevant governmental agency and conditions (if any) : Ministry of Commerce will approve the increase in registered capital of company. 5. Objectives and plans for utilizing proceeds received from the capital increase : To be used for working capital such as payment for goods, payment for maturity liabilities and the remaining capital is reserved for the expansion of the company in the future. 6. Expected the companys benefits : 6.1 Increase liquidity and strengthen financial status. 6.2 Reduce the operating and financial expense and increase capability of making profit. 6.3 The new venture capital which has more experience in telecommuni- cations business and strong financial status will increase the capability of the company to compete in the liberal market such as the quality of network, service, technology , management , marketing and others. 7. Expected shareholders benefits : 7.1 Dividend policy : The new cash flow will increase the companys capability of making profit which will be enable the shareholders to receive sooner dividend. 7.2 Subscribers who subscribe to the new shares will be entitled to receive dividends from the companys business operations starting from : Share Subscription Date. 8. The action plan in case the board of directors have approved to increase capital/ allotment of new shares as attachment. The company certify that the above information is accurate and complete. Signature Signature (Mr. Boonklee Plangsiri) (Mr. Somprasong Boonyachai) Director Director Attachment Capital Increase Schedule Description Date 1. Board of Directors meeting January 6, 1999 2. Report on the Board of Directors January 7, 1999 Meeting to SET 3. The closure of the share transfer January 21, 1999 book for the right to attend the shareholders meeting 4. Shareholders meeting February 10, 1999 5. Report on the Shareholders meeting February 11, 1999 to SET February 11, 1999