No. 01-502 /2012 July 30, 2012 (Translation) Subject: The Adjustment of Pricing Formula in Purchase Agreements of Petrochemical Natural Gas Feedstock between PTT Global Chemical Public Company Limited and PTT Public Company Limited Attention: President The Stock Exchange of Thailand The Board of Directors at the meeting no. 7/2012 held on July 27, 2012 approved the resolution to the adjustment of the pricing formula in the purchase agreements of petrochemical natural gas feedstock between the Company and PTT Public Company Limited ("PTT"). The formula adjustment remains in the same principle of the profit sharing basis between the two parties and will become effective since August 1, 2012. The adjustment in the pricing formula is in accordance with the agreement in the contracts between the two parties. As a result of the increase in global crude oil prices and the increase in natural gas cost used as feedstock, the current formula, hence, does not reflect the profit sharing basis. The new formula, however, under the current oil prices will result in the increase of petrochemical feedstock by USD 40 per metric ton or by 8%. The new assumption determining the new formula is based upon the crude price range of USD 70-130 per barrel and investment cost as well as production cost and sales expenses based on global standard. To maintain the Company's long-term competitive advantage, the Company will work cooperatively with PTT to enhance higher value in downstream derivatives expansion and to supply natural gas as feedstock for the Company's debottleneck project as PTT's Petrochemical Flagship. Please be informed accordingly, Yours sincerely, Anon Sirisaengtaksin CEO ______________________________________________________________________ This announcement was prepared and disseminated by listed company or issuer through the electronic system which is provided for the purpose of dissemination of the information and related documents of listed company or issuer to the Stock Exchange of Thailand only. The Stock Exchange of Thailand has no responsibility for the correctness and completeness of any statements, figures, reports or opinions contained in this announcement, and has no liability for any losses and damages in any cases. In case you have any inquiries or clarification regarding this announcement, please directly contact listed company or issuer who made this announcement.