THE RESIGNATION OF DIRECTOR AND APPOINTMENT NEW DIRECTOR

(Translation) December 11, 2002 Subject : Notifying the Resolutions of the Board of Directors No. 9/2002 To : Director and Manager Stock Exchange of Thailand The Board of Directors' Meeting of Siam Makro Public Company Limited No. 9/2002 held on 11 December 2002 made the following resolutions: 1. The meeting unanimously approved the resignation of Mr. Hessel Franssen from the position of the Company's Director with effective date as from December 11, 2002. 2. The meeting unanimously approved the appointment of Mr. Francisco Henrique Passos Fernandes as a new director to replace Mr. Hessel Franssen who has resigned. 3. The meeting unanimously approved the redesignation of the authorized directors as follows: "Number of directors whose signatures bind the Company are Mr. Arsa Sarasin, Mr. Prasert Jarupanich, Mrs. Suchada Ithijarukul, Mrs. Boonsin Srilertchaipanich, Mr. Antonio Carlos Pereira Melo and Mr. Francisco Henrique Passos Fernandes any two of these six directors may jointly sign with the Company's seal affixed." Please be informed accordingly. Yours faithfully, Siam Makro Public Company Limited Signature (Charoen Assawajarukasem) SET Coordinator Manager