Ref. No. COR:MS/EL09006e/on

10 February 2009

Subject: Notification of Repurchase and Cancellation of Bonds

To: The President of the Stock Exchange of Thailand

Ref: 1) Disclosure of Information No. COR:MS/EL07020e/pc dated 20 September 2007 in relation to the Issue of US Dollar Denominated Convertible Bonds to Investors Outside of Thailand

2) Disclosure of Information No. COR:MS/EL08024e/on dated 4 December 2008 in relation to the Notification of Repurchase and Cancellation of Bonds

3) Disclosure of Information No. COR:MS/EL08026e/on dated 11 December 2008 in relation to the Notification of Repurchase and Cancellation of Bond

4) Disclosure of Information No. COR:MS/EL08028e/on dated 19 December 2008 in relation to the Notification of Repurchase and Cancellation of Bond

With reference to the USD169,800,000 2.5% Convertible Bonds due 2012 issued and offered to investors outside of Thailand on 24 September 2007 (the "Bonds"), Thoresen Thai Agencies Public Company Limited ("TTA") would like to announce the repurchase and cancellation of a portion of the outstanding Bonds amounting to USD 9,300,000 in an aggregate principal amount of the Bonds representing 7.11% of the outstanding principal amount of the Bonds.

The aggregate principal amount of the Bonds remaining outstanding after the repurchase and cancellation of the Bonds is USD 121,500,000 with the conversion price of the Bonds being Baht 56.57. In any event, TTA may continue to repurchase a portion of the Bonds as it deems appropriate.

Yours faithfully,
Thoresen Thai Agencies Public Company Limited

 

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(M.L. Chandchutha Chandratat)
Managing Director

 

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(Ms. Nuch Kalyawongsa)
Director, Group Finance/ Accounting