-Translation- CP-AIS 001/2004 January 6, 2004 Subject: Report on the results of the exercise of warrants (ESOP Grant 1) in December 2003. 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 December was between December 25 - 31, 2003. 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 December 2003, as follows: The number of exercised warrants in this month : 531,800 units The number of remaining unexercised warrants : 9,951,500 units The number of ordinary shares derived from this exercise : 534,763 shares The number of remaining ordinary shares reserved for warrants : 9,940,347 shares Please be informed accordingly. Yours sincerely, -Signed- Mr. Somprasong Boonyachai Director Advanced Info Service Public Company Limited Legal & Compliance Department Tel. 0-2299-5561