HAS NEW MD

Siam Makro Plc notified board resolutions made at the 1/1998 meeting held on Jan 26, 1998 as follows: 1. To approve resignations of Mr Yohan P Foker, director, and Mr Jacob Cornelio, MD and Vice President but still attaining director, because those are called to be in charge of new Asia-region office of Makro, including Thailand. For this, the board appointed Mr Arnold M Leotobak, who has 28-year-long experience in macro business, director, MD and vice president. This will come into effect on Mar 1, 1998 onwards. 2. To authorise two of five directors to co-sign along appendage and company's common seal -- Mr Thanin Jieravanont, Mr Prasert Jarupanich, Mr Jacob Cornelio, Mr Arnold M Leotobak and Mrs Suchada Ithijarikul. This is effective from Mar 1, 1998.