Thai Airways International Holds Annual General Shareholders' Meeting

 Thai Airways International Public Company Limited today held its Annual General Shareholders' Meeting, chaired by Mr. Thanong Bidaya, THAI's Chairman, at the airline's Head Office on Vibhavadi Rangsit Road. Participants included members of THAI's Board of Directors, the airline management, senior executives, and shareholders, and the following issues were discussed:

THAI's Financial Results 2001/2002

THAI achieved a total revenue of 129,510 million baht during financial year 2001/02 (October 2001-September 2002) and a net profit of 10,182 million baht.

When compared to the same period last year, the net profit increased by 8,253 million baht or 427.84 percent. Net profit was equivalent to 7.27 baht per share, which was 1.38 baht per share last year.

Distribution of Profit and Dividend

The Shareholders' Meeting approved the distribution of profit and dividend on the 1,400 million shares at 1.50 baht per share. The payment of dividend will be made to shareholders with names registered in the shareholders' registration book on 3 January 2003 and is scheduled to take effect within 30 days after the Annual Shareholders' Meeting 2002.

Appointment of New Members of THAI's Board of Directors

The Annual Shareholders' Meeting approved the appointment of new Board of Directors to replace the former board members who resigned according to terms of office and elected 7 members as follows:

1. Mr. Srisook Chandrangsu
Permanent Secretary, Ministry of Transport and Communications
2. Mr. Somchainuk Engtrakul
Permanent Secretary, Ministry of Finance
3. Mr. Chai-anan Samudavanija
Director, Vajiravudh College
4. Mr. Chartsiri Sophonpanich
President, Bangkok Bank Public Company Limited
5. ACM Kongsak Wantana
Commander-in-Chief, Royal Thai Air Force
6. Mr. Thirachai Vudhidhama *
Advisor to the Chairman of Transport Committee (Senator)
7. Asst. Prof. Dr. Thatchai Sumitr*
President, Chulalongkorn University

New Board of Directors are :

1. Mr. Thanong Bidaya Chairman
Economic Advisor to the Prime Minister
2. Mr. Srisook Chandrangsu Director
Permanent Secretary, Ministry of Transport and Communications
3. Mr. Somchainuk Engtrakul Director
Permanent Secretary, Ministry of Finance
4. Mr. Chai-anan Samudavanija Director
Director, Vajiravudh College
5. Mr. Viroj Nualkhair Director
President, Krungthai Bank Public Company Limited
6. Mr. Chartsiri Sophonpanich Director
President, Bangkok Bank Public Company Limited
7. Mr. Vichit Suraphongchai Director
Chairman of the Executive Committee,
Siam Commercial Bank Public Company Limited
8. Mr. Olarn Chaipravat Director
President, Shinawatra University Council
9. Mr. Borwornsak Uwanno Director
Secretary General, King Prajadhipok's Institute
10. Pol. Gen. Sant Sarutanond Director
Commissioner-General, Royal Thai Police
11. ACM Kongsak Wantana Director
Commander-in-Chief, Royal Thai Air Force
12. ACM Terdsak Sujjaruk Director
Managing Director, Airports of Thailand Plc.
13. Mr. Thirachai Vudhidhama Director
Advisor to the Chairman of Transport Committee (Senator)
14. Asst. Prof. Dr. Thatchai Sumitr Director
President, Chulalongkorn University
15. Mr. Kanok Abhiradee Director & Secretary
President, Thai Airways International Plc.

The appointment of THAI's Board of Directors takes immediate effect. Attending THAI's Annual General Shareholders' Meeting were 1,436 shareholders, representing 1,311,617,937 shares.