CLARIFYING NEWS REGARDING INVESTMENT IN NETWORK EXPANSION
22 August 2000
Translation
AIS. 0192/2000
August 22, 2000
Re Clarification on the news regarding investment in network expansion
To President
Stock Exchange of Thailand
Refer to the news regarding that Advanced Info Service Plc. ("The Company")
plans to invest in its network expansion amounting to US$ 120 Million,
the Company would like to clarify as follow:
The Board of Director's Meeting No. 3/2000 dated August 11, 2000 has approved
the additional investment in the Company's GSM network expansion of not exceed
US$ 120.7 Million. Such expansion will be used to support a rapid growth of
the Company's subscriber base. Currently, the Company is in the process of
purchasing and importing the equipment from the suppliers.
The Sources of funds to support such investment will be partly from the
Company's Cash on hand and cash flow from operation, and the remaining will
be financed by loan from financial institutions due to the low Company's
debt to equity of approximately 1 to 1.
Please be informed accordingly.
Yours Faithfully
-Signed-
Mrs. Siripen Sitasuwan
Director
Advanced Info Service Plc.