-Translation- AIS-CP 024/2005 March 7, 2005 Subject: Notification of the adjustment to exercise price and exercise ratio of ESOP Warrants Grant I, II and III To: President The Stock Exchange of Thailand According to the Board of Directors' Meeting of Advanced Info Service Public Company Limited (the "Company") No.2/2005 held on February 17, 2005 passed a resolution to approve the dividend payment for the second half of 2004 to shareholders at the rate of 2.60 Baht per share, totaling 7,653.39 million Baht to the shareholder of the company. Upon the resolution, the Company has announced to distribute the dividends in excess of 50% of the net profit after income tax. This has affected on the adjustment to exercise price and exercise ratio of warrants to purchase the Company's ordinary shares, which were offered to directors and employees of the Company (ESOP) Grant I, II and III as stated in Clause 2.6 (v) of the Prospectus offering the ESOP Program of the Company. The ESOP warrant holders shall not be decreased their rights. The adjustment to exercise price and exercise ratio of ESOP Warrants were shown as follow; ESOP Grant I Before adjustment After adjustment Exercise price (Baht per share) 47.147 46.780 Exercise ratio (warrant : common shares) 1 : 1.01751 1 : 1.02549 Number of shares to be allotted (shares) 5,447,889 5,567,692* ESOP Grant II Before adjustment After adjustment Exercise price (Baht per share) 42.634 42.302 Exercise ratio (warrant : common shares) 1 : 1.01751 1 : 1.02549 Number of shares to be allotted (shares) 5,992,746 6,134,583* ESOP Grant III Before adjustment After adjustment Exercise price (Baht per share) 91.348 90.637 Exercise ratio (warrant : common shares) 1 : 1.00484 1 : 1.01272 Number of shares to be allotted (shares) 8,999,500 9,113,973* Number of additional shares to be allotted after adjustment of exercise price and exercise ratio of ESOP (shares) Total 376,113 * calculated from the remaining of unexercised warrants The new exercise price and new exercise ratio shall be effective immediately on March 7, 2005 or the first day of XD sign posting onwards. As a result, provided that, the Company currently has sufficiently reserved shares for the exercise of ESOP warrants. The Company, therefore, will allot the additional shares to reserve for the new exercise ratio of ESOP Grant I, II and III in the Annual General Meeting of Shareholders for fiscal year 2005. Please be informed accordingly. Yours sincerely, -Signed- Mr. Pong-Amorn Nimpoonsawat Chief Financial Officer Advanced Info Service Public Company Limited