27 February 2003 The President The Stock Exchange of Thailand Bangkok Dear Sir, Re: Reports on Resolution of the Board of Directors' Meeting No. 49 regarding the set up of a new joint venture, namely BJC Environment Company Limited The Board of Directors of Berli Jucker Public Company Limited at Meeting No. 49 held on 27 February 2003 passed the resolutions regarding the set up of a new joint-venture, namely BJC Environment Company Limited as follows: Date of Transaction: After the date of the Board of Directors' Meeting and within June 2003 Name: BJC Environment Company Limited Nature of Business: To focus on Cleaner Technology in the market sector of Food and beverages, Textile and leather, Pulp and paper and Printing and graphic. The company will subsequently expand areas of focus to encompass other environmental areas as it develops. Registered Capital: Baht 6 million divided into 600,000 ordinary shares of Baht 10 each. Ratio of Investment: 70% shareholding by Berli Jucker Public Company Limited 30% shareholding by Green City Denmark A/S Green City Denmark A/S is a Denmark's national and international showcase for energy and environmental solutions with its office at Merkurvej 910 DK, 7400 Herning, Denmark. Object of Investment Long-term investment Source of Fund: From the Company's Working Capital Benefit: Dividend and expansion of the environmental business in Thailand which has a high potential for future growth. Transaction Size: = Investment Fund Net Asset = 4,200,000 12,275,000,000 = 0.03% Connected Transaction: This is not classified within the applicable procedures and rules regarding disposition/acquisition of listed company's asset or a connected transaction. Please be informed accordingly. Yours faithfully, Berli Jucker Public Company Limited Thirasakdi Nathikanchanalab Sompoth Kosum Director Director