Interim Dividend Declaration

Translation November 12, 2003 Subject : To inform the Board of Directors' resolution No.4/2003 To : Director and President The Stock Exchange of Thailand The Board of Directors' Meeting of Siam Makro Public Company Limited No. 4/2003 held on November 12, 2003 made the following resolutions: - 1. The meeting unanimously resolved to approve the Company to declare the interim dividend during 1 January 2003 through 30 September 2003 to all shareholders at Baht 1.25 per share, totalling Baht 300,000,000 for the total number of 240,000,000 shares without appropriating the legal reserve due to the amount of the Company's legal reserve being that required by the law and dividend payment date is set on December 9, 2003. 2. The meeting unanimously resolved to close the Company's share register book on November 28, 2003 at 12.00 hours in order to determine the shareholders' right to receive the interim dividend. Please be informed accordingly. Yours faithfully, Siam Makro Public Company Limited Signature (Charoen Assawajarukasem) SET Coordinator Manager