Share Capital Increase of Thoresen Shipping Singapore
Ref: COR:MS/EL08010e/ms
10 April 2008
Subject: Share Capital Increase of Thoresen Shipping Singapore Pte. Ltd.
To: The President of the Stock Exchange of Thailand
Thoresen Thai Agencies Public Company Limited ("TTA") hereby confirms that Thoresen Shipping Singapore Pte. Ltd. ("TSS"), a wholly owned subsidiary of TTA, has increased its share capital as follows:
| Name of Company | : | Thoresen Shipping Singapore Pte. Ltd. |
| Registered & paid-up share capital | : | SGD 58,900,000 |
| No. of shares before share capital increase | : | 58,900,000 shares |
| Registered & paid-up share capital after share capital increase | : | SGD 111,300,000 |
| No. of shares after share capital | : | 111,300,000 shares |
| Par value per share | : | SGD 1 |
| Source of funds | : | From working capital of TTA |
| Value of investment by TTA | : | SGD 52,400,000 or Baht 1,197,340,000, using a SGD/THB exchange rate of 22.85 |
| Purpose of share capital increase | : | To finance instalment payments on new build vessels to be built by PT PAL INDONESIA (PERSERO), which was reported to the SET on 21 December 2007 (ref: COR:MS/EL07032e/ms) |
| Percentage of shareholding before and after share capital increase | : | 100% held by TTA |
| Date of share capital increase in Singapore | : | 10 April 2008 |
Please be informed accordingly.
Yours faithfully,
Thoresen Thai Agencies Public Company Limited
|
M.L. Chandchutha Chandratat |
Ms. Nuch Kalyawongsa |