28 July 1998


July 27, 1998 To : The President, Stock Exchange of Thailand Re : Uses of the IPO proceeds report - up to June 30, 1998 Since the company had offered its additional 20 million shares to general public at Baht 142 per share and subsequently was accepted by SET as a listed company and began trading of the companys share on July 18, 1996 thus the company is reporting progress of the uses of IPO proceeds according to the objectives as described in our prospectus up to June 30, 1998 as follows:- 1. The imporvement of broadcasting equipment-approximately Baht 400 million. This investment is in fact a continuous process to ensure our viewers satisfaction which will improve our rating and create opportunity for us enhance our revenue. However, as the company did spend quite a lot on the improvement in 1995 while waiting for the approval of our IPO, thus the time to spend the total budget on this investment is extended. This investment is made subsequent to our IPO as follows:- within 1996 - Baht 70.2 million, within 1997 - Baht 122.7 million, within the first half of 1998 -Baht42.0 million, thus the accumulated amount is now Baht164.7 million. It is expected that the investment will be approximately Baht 100 - 150 million this year. 2. The construction of a 350-metre antenna-approximately Baht700 million. As the company canceled its Rama9 property development plan,as previously advised (by letter dated November 13, 1996), thus this investment was put on hold and is being reviewed whether it will still be invested. The company has not yet spent any on this project. 3. Repayment of loans - approximately Baht 1,000 million. The company has already made full repayment of all its loans(Baht 945 million) as reported in the first uses of the IPO proceeds report. 4. To fund the working capital requirements-approximately Baht 740 million. The Baht 740 million from our IPO proceeds has already been used as the companys working capital as well as the unused portion left from objectives nos. 1,2 and 3. They all are parts of our working capital. Please be informed accordingly. Yours faithfully, BEC World Public Company Limited Chatchai Thiamtong Vice President - Finance