ADDITIONAL CLARIFICATION OF DIVIDEND DECLARATION

(Translation) February 21, 2003 Subject : Additional clarification on resolution of the Board of Directors No. 1/2003 to propose to the shareholders' meeting for the Company to declare dividend. To : Director and President The Stock Exchange of Thailand Reference : The Company's letter dated February 21, 2003, Subject: To inform the Board of Directors' Resolution No. 1/2003 With reference to Clause 3 of the resolution of the Board of Directors No. 1/2003, the Board of Directors has adopted a resolution to propose to the shareholders' meeting No. 10 to be held on 24 April 2003 to consider and approve the Company to pay dividend in the amount of Baht 840,000,000, being 89.2% of net profits for the year. Dividend per share is Baht 3.50 and the dividend payment date is on May 20,2003. The Company hereby makes an additional clarification that the amount of the dividend to be payable to the shareholders described above is not that of the interim dividend declared by the resolution of the Board of Directors No. 6/2002 held on 11 June 2002. The interim dividend was made by considering from the retained earnings and the profit from the disposition of all interest in Makro Auto Care Company Limited and paid in the amount of Baht 3 per share, totalling Baht 720,000,000 having been paid to the shareholders on 8 July 2002. Consequently, the dividend payment to be proposed to the shareholders meeting No. 10 referred in the first paragraph to be payable on May 20, 2003, excluding the interim dividend referred in the second paragraph of this letter, will be Baht 3.50 per share, totalling Baht 840,000,000.- . Please be informed accordingly. Yours faithfully, Siam Makro Public Company Limited (Signature) (Charoen Assawajarukasem) SET Coordiantor Manager