-Translation- CP-AIS 016/2004 March 2, 2004 Subject : Report on the results of the exercise of warrants (ESOP Grant 1) in February 2004. To : The President The Stock Exchange of Thailand Advanced Info Service Public Company Limited ("the Company") issued and offered 14,000,000 units of warrants to purchase the Company's ordinary shares to directors, employees, and advisors of the Company (ESOP Grant 1) on March 27, 2002. The exercise date will be made within the last five business days of every month between 9.00 a.m. and 4.00 p.m.. The exercise date of February was between February 23 - 27, 2004. The summary of terms and conditions of warrants are as follows: Exercise Ratio : 1 warrant per 1.00559 ordinary shares Exercise Price : Baht 47.733 per share. Maturity of Warrants : 5 years from the first date of the issuance and offering of warrants. Number of Ordinary : 14,000,000 shares. Shares Reserved for Warrants The Company would like to report the results of the exercise of warrants (ESOP Grant 1) in February 2004, as follows: The number of exercised : 45,600 units warrants in this month The number of remaining : 9,792,800 units unexercised warrants The number of ordinary : 45,852 shares shares derived from this exercise The number of remaining : 9,780,767 shares ordinary shares reserved for warrants Please be informed accordingly. Yours sincerely, -Signed- Mrs. Siripen Sitasuwan Director Advanced Info Service Public Company Limited Group Compliance Tel. 0-2299-5561