Interim dividend payment & setting the date 2003

Thai Airways International Public Company Limited held the Board Meeting No. 12/2003 on Wednesday, October 29, 2003, at the Conference Room, 22^nd Floor, Head Office Building, No. 89 Vibhavadi Rangsit Road, Khwaeng ladyao, Khet Chatuchak, Bangkok Metropolis. Details of the resolutions are as follows:

1.     The Board has passed the resolution to adjust the Board of Directors’ remuneration as proposed by the Remuneration Committee as follows:

1.1   Meeting Allowance

Monthly Allowance of Baht 50,000 for those present at the meeting and Baht 20,000 for those absent from the meeting

Increasing remuneration for Board of Directors have been appointed as directors, sub-directors, and members of working groups as follows:

Meeting allowance of Baht 10,000 for those present at the meeting for Strategy Supervision Committee, Corporate Governance Committee and Remuneration Committee.

As much as Monthly Allowance of the Board of Directors’ remuneration, including the month a meeting is not held for Audit Committee. (Cabinet’ s resolution on April 23, 2000)

1.2  Bonus as per Cabinet’s resolution

2.  The Board has passed the resolution to amend the Company’s dividend policy from dividend payment of not less than 25 % of net profit, depending on economic conditions and the Company’s business structure in the future, to dividend payment of not less than 25 % of net profit before gain and loss on foreign currency exchange, depending on the investment plans, and the other necessity and appropriate in the future.

3.  The Board has passed the resolution to approve the interim dividend payment as follows:

3.1        The interim dividend payment from the business operations of the Company for the half fiscal year 2002/03 will be Baht 1.00 per share and will be paid to shareholders on Friday, November 28, 2003.

3.2      The closing date for the Company share registration for the right to receive the dividend will be on Wednesday, November 12, 2003 at 12.00 hours.    

 Moreover, the Board has passed the resolution to consider and approve the additional dividend payment from the business operations of the Company for the fiscal year 2002/03 of not less than, Baht  1.00 per share. The Board of Director will be fixed the closing date for the Company share registration for the right to receive the dividend, the amount of the dividend payment, and the date paid for dividend payment after the Board of Director  approve the results of the business operations on November 14, 2003 and to propose by the shareholders’ meeting in December 2003.

4.  The Board has passed the resolution to hold the 2003 Annual General Shareholders’ Meeting, of which details are as follows :

4.1   The date set for the 2003 Annual General Shareholders’ Meeting is Tuesday, December 23, 2003 at 13.30 hrs., at  the Auditorium, Building No. 2, 3^rd Floor Head Office Building, No. 89 Vibhavadi Rangsit Road, Khwaeng ladyao, Khet Chatuchak, Bangkok Metropolis.

4.2   The date set for the closing of the share register for the right to attend the 2003 Annual General Shareholders’ Meeting shall be from Thursday, December 4, 2003, from 12.00 hrs., until the 2003 Annual General Shareholders’ Meeting is completed.

4.3   The agenda of the 2003 Annual General Shareholders’ Meeting is as follows:

Agenda 1.      Report from the Chairman

Agenda 2.      Consideration and approval of minutes of the 2002 Annual General Shareholders’ Meeting, and the Extraordinary Shareholders’ Meeting No. 1/2003

Agenda 3.      Acknowledgement of report of the Board of Directors concerning results of business operations of the Company during previous year

Agenda 4.      Consideration and approval of Balance Sheet and Income Statement

Agenda 5.      Acknowledgement of the amendment of the Company’s dividend policy and the interim dividend payment

Agenda 6.      Consideration of the allocation of the profit and the dividend    payment

Agenda 7.      Consideration of the election of Directors

Agenda 8.      Consideration and appointment of an auditor and determination of audit fee

Agenda 9.      Consideration and approval of directors’ remuneration adjustment

Agenda 10.   Consideration of the payment of annual remuneration to Directors

Agenda 11.   Other Business (if any)