THAI Announces Results of Board Meeting

Thai Airways International Public Company Limited today held a Board of Directors' Meeting, chaired by Dr. Chai-anan Samudavanija, THAI's Chairman, with the following results:

1. Appointment of Additional Vice Chairman to THAI's Board of Directors THAI's Board of Directors has appointed Mr. Thanong Bidaya as the fifth vice chairman or Vice Chairman 5 under THAI's Board of Directors.

2. Appointment of THAI's Long Term Plan Committee As the Board of Directors has approved of THAI's corporate strategy, which will be included in the airline's long term plan, it was decided that a Long Term Plan Committee be established, the committee members being appointed as follows:

- Mr. Thanong Bidaya Chairman Member of the Board, Thai Airways International Public Company Limited

- Mr. Supote Kumpeera Committee Member Director-General, Department of Aviation

- Mr. Sommai Pasri Committee Member Representative, Ministry of Finance

- Mr. Surananda Wongvittayakamjon Committee Member Assistant Secretary-General, Office of the National Economic and Social Development Board

- THAI's Executive Management Committee Member

- Mr. Veravat Chotiros Committee Member & Secretary Acting Senior Vice President, Corporate Planning and Government Relations, and Vice President, Industry Relations and Commercial Support

- Mrs. Sang-Ngun Pornpaiboonstid Committee Member Vice President, Corporate Planning

3. Appointment of THAI's Spokesman

The Board of Directors has agreed to appoint Mr. Vithit Leenutapong, a member of THAI's Executive Committee, as the Board of Directors' Spokesman. Mr. Leenutapong will be directly responsible for announcing policy-related news and introducing communication strategies to target groups in the most effective manner. This is to create better understanding and encourage good cooperation from all concerned as well as promote a positive image of THAI and the Board of Directors. His role concerns news solely related to THAI's policy, not to daily operations. This is to ensure that all communications are in line with THAI policy and directed to the target groups.

Mr. Leenutapong is currently a member of THAI's Executive Committee and Chairman of THAI's Communication Task Force, which made him the most suitable choice for the Board of Directors' Spokesperson.

Spokesman of the Board of Directors Role and Responsibilities:

1. Convey the policy of the Board of Directors to the general public, journalists, staff, shareholders and government agencies.

2. Ensure that the message conveyed from the Board of Directors is in line with overall company policy and contributes to the positive image for the airline and the Board.

3. Analyze and select news items and issues for release to the general public, journalists, staff, shareholders and government agencies.

4. Liaise and coordinate with the Board of Directors, Public Relations Department, Public Information Department and related departments to ensure that the news items and issues released by the Board are in line with overall company policy and are uniformly conveyed throughout the organization and to the public.

Scope of Responsibilities:

The responsibility of the Spokesman of the Board of Directors will cover announcements following regular monthly Board Meetings or whenever the Chairman deems it necessary for the Board to issue an official statement.

Responsibility will cover matters concerning strategic company policy, but will not include operational matters or crisis communications. The authority of the Spokesman will be determined later.

4. Establishment of THAI's Corporate Strategy Plan THAI's Board of Directors has approved of the airline's corporate strategy, the most important 5 strategies being as follows:

1. Supportive Strategy

2. Business Strategy

3. Financial Strategy

4. Operation Strategy

5. Good Governance

5. Organizational Restructuring

THAI's Board of Directors has approved of plans to reorganize the company's operations, in the initial phase, in order establish Business Units - as proposed and decided by THAI's Organizational Restructuring Committee, effective as of 1 November 2001 onwards. The establishment of Business Units within Thai Airways International is in accordance with THAI's Business Strategy.

In addition, THAI's Board of Directors has established a special committee, to be responsible for organizing THAI's Business Units in accordance with the Action Plan, with the special committee members being as follows:

1. Dr. Srisook Chantrangsu Vice Chairman 1 Chairman

2. M.L. Subhasiddhi Jumbala Member of the Board Committee Member

3. Mr. Somchai Boonnamsiri Member of the Board Committee Member

4. Mr. Vithit Leenutapong Member of the Board Committee Member

5. M.R. Supadis Diskul Management Representative Committee Member

6. Mr. Kaweepan Ruangpaka Management Representative Committee Member

All of the employees under the Business Units will remain THAI employees and receive the same salary and employee benefits that they previously received prior to Business Unit establishment.

6. Refinance of Current Loans Due in 2001

THAI's Board of Directors has approved of the airline's plans to refinance current loans that would be due in 2001, at approximately 23,000 million yen, in order to reduce the company's financing costs. The Samurai Bonds will be issued by Thailand's Ministry of Finance and lent to THAI on the same basis as previously issued.