27 October 2004,  Thai Airways International Public Company Limited, a Board of directors’ Meeting was held and chaired by Mr. Thanong Bidaya, THAI’s Chairman of the Board, with the following results:

1. THAI’s Annual General Shareholders’ Meeting 2004

THAI’s Board of Directors approved the date for the next Annual General Shareholders’ Meeting 2004, on Friday, 17 December 2004, at 1330 hours, in the Auditorium at THAI’s Head Office, with the date established to close the register and suspend the transfer of shares for the purpose of determining the right to attend the meeting on Monday, 29 November 2004, at 1200 hours, until THAI’s Annual General Shareholders’ Meeting comes to an end.

2. Appointment of a Board Member

THAI’s Board of Directors appointed Mr. Vudhibhandhu Vichiratna, Budget Director, The Bureau of the Budget, who replaces Prof. Suchai Charoenratanakul, M.D., who has resigned from the position, as of 27 October 2004 onwards.

29 September 2004, Thai Airways International Public Company Limited held a Board of Directors Meeting, chaired by Mr. Thanong Bidaya, the THAI Chairman, with the decision to establish a "Company Limited" for Cargo and Mail Commercial Services, as follows:

The THAI Board of Directors approved for the company to proceed with the establishment of a "Company Limited" for Cargo and Mail Commercial Services, operating with freighter aircraft. The shareholders of the company will include:

1. Thai Airways International Public Company Limited will hold 49%, as the largest shareholder
2. Other shareholders will hold a combined total of no more than 51% of the shares. Each of these shareholders must be legal, Thai entities holding at least 2% of the total shares.

In addition, the THAI Board of Directors approved a to organize a the Road Show to seek out interested shareholders by appointing company representatives to oversee this activity, as follows:

1. Mr. Somchainuk Engtrakul, Member of the THAI Board of Directors
2. Mr. Prajak Jamrusmechoti, THAI Executive Vice President, Special Project Department
3. Mr. Chanchai Singtoroj, THAI Managing Director, Cargo & Mail Commercial
4. A Representative from Merge Global Inc., as Advisor
5. A business negotiations professional

Furthermore, the THAI Management will have to set up a committee for the registration of the company.