-Translation- AIS 353/2002 September 16, 2002 Subject : Disposition of Investment To : The President The Stock Exchange of Thailand We, Advanced Info Service Public Company Limited ("the Company"), would like to announce the disposal of our all investment in Advanced Paging Co., Ltd. ("Advanced Paging"), a 99.99% subsidiary of the Company. As a result, Advanced Paging ceased to be a subsidiary of the Company. The Company sold 34,999,994 shares of Advanced Paging, 99.99% of its common shares, in the total amount of Baht 255.78 million. With the book value of this investment under equity method at Baht 230.79 million, the Company has the gain on disposal of this investment amounting to Baht 24.99 million. The Company will realize this gain in the third quarter of this year. The investment in Advanced Paging was 0.74% of net tangible assets of the Company and sold to unconnected persons. Therefore, this disposal was not subject to the Notification of the Stock Exchange of Thailand regarding the Rules Procedures and Disclosure of Information Concerning the Acquisition and Disposition of Assets of Listed Companies as well as the Notification of the Stock Exchange of Thailand regarding the Rules, Procedures and Disclosure of Connected Transactions of Listed Companies. Advanced Paging was a service provider of paging business under the concession of the Telephone Organization of Thailand ("TOT"). However, Advanced Paging had returned its paging concession to the TOT since June 2002 and its operation does no longer benefit to the Company. Therefore, this disposal will not affect the Company's operations. Please be informed accordingly Sincerely yours, -signed- Mr. Boonklee Plangsiri Director Advanced Info Service Public Company Limited Compliance Department Tel. 0-22995226, 0-22995221