- Translation - Ref: FN020/04 February 19, 2004 Subject : Report of Financial Covenants Compliance Advanced Info Service Plc. To The President The Stock Exchange of Thailand Pursuance to the Terms and Conditions of the debentures of Advanced Info Service Plc. AIS063A, AIS04NA, AIS06NA, AIS093A, AIS093B, AIS073A and AIS07OA, the Company is required to maintain its debt to equity ratio at not more than 2:1. This ratio will be calculated from an unconsolidated financial statement of the Company on a quarterly basis. Additionally, in case that the Company pays dividend to its shareholders, the dividend payout ratio will not be more than 70% of its net profit of each year. As at 31 December, 2003 the Company is in compliance with the financial conditions set forth in the Terms and Conditions of the above debentures as follows: Debentures Debt to Equity ratio Dividend Payout Ratio* Conditions Compliance Conditions Compliance AIS063A <_2:1 0.95 <_70% 31.67% AIS04NA, <_2:1 0.84 <_70% 31.67% AIS06NA, AIS093A, AIS093B, AIS073A, AIS07OA *The debentureholders' meeting on July 2, 2003 resolved that the Company could pay dividend to its shareholders at more than 40% but not more than 70% of the net profit of the year. On September 4, 2003 the Company paid an interim dividend from its half-year operation to its shareholders at the rate of Bath 2.00 per share. The Company completely pursued the conditions of dividend payment as approved by the debentureholders' meeting. Please be informed accordingly. -(Signed)- Mr. Somprasong Boonyachai