CHANGE OF SHAREHOLDING STRUCTURE OF MAJOR SHAREHOLDERS

Translation 10 August 1999 Subject : Reporting on the change of shareholding structure of the listed company's major shareholders To : Director and Manager, The Stock Exchange of Thailand This is to report to you that Orkam Holding Asia N.V., Siam Makro Public Company Limited's ("MAKRO") major shareholder directly holding 54,106,050 shares or 22.54% in MAKRO, has entered into the agreement to sell its 40,179,990 shares or 16.74% in MAKRO to CPF Investment Limited ("CPFI"), Bangkok Agro-Industrial Products Public Company Limited ("BAP"), Bangkok Produce Merchandising Public Company Limited ("BKP"), Charoen Pokphand Northeastern Public Company Limited ("CPNE") and the individuals on the date hereof. At the same time, Orkam Holding Asia N.V. also has agreed to purchase from CPFI, BAP, BKP, CPNE and the individuals the shares in Holms Green Co., Ltd. and Makro Holding (Thailand) Limited who are shareholders of MAKRO. This will result in an increase of 16.74% indirectly in the share holding in MAKRO by Orkam Holding Asia N.V. Although these transactions will change the companies through which Siam Makro's major shareholders hold their stock in Siam Makro Public Company Limited, there will be no change to their effective shareholdings. The management and the Board of Directors will remain unchanged. Please be informed accordingly. Yours faithfully, Siam Makro Public Company Limited