BOARD OF DIRECTORS REGARDING THE ISSUANCE OF THE DEBENTURES

November 27, 2001 Subject : Clarify the Resolution of the Board of Directors' Meeting ot the Company Regarding the Issuance of the Debentures To : President The Stock Exchange of Thailand Phatra Leasing Public Company Limited would like to clarify the Resolution of the Board of Directors' Meeting ot the Company, the 5th/2000 held on December 29, 2000 regarding the Issuance of the Debentures as follows: Debenture Feature : Unsubordinated, Unsecured with debenture holder representative Offering Method : Public Offering Offering amount : 400,000 units Par value : 1,000 Baht per unit Offering price per unit : 1,000 Baht per unit Total amount : 400,000,000 Baht Life of debentures : 3 years Issue date : December 6, 2001 Redemption Date : December 6, 2004 Interest rate : 6 % per annum Yours Sincerely, Phatra Leasing Public Company Limited