Company Enters New Era as Shin Satellite

Bangkok--Jul 29--Shin Satellite In a long-awaited decision, shareholders of Shinawatra Satellite Public Company Limited unanimously approved of a name change for the company to Shin Satellite Public Company at an extraordinary shareholders meeting held at the Thaicom Satellite Station on 22 July 1999. While the approval still has to wait for the registration of the new name with the Commercial Registration Department t o be effective legally, the company believes that the registration will be completed sometime in August 1999. Chief Executive Officer of Shinawatra Satellite, Dr. Dumrong Kasemset, commented that, "It is a necessary step for us following the general re-structure of the Shin group at the beginning of the year. The new direction that the company is taking requires us to strike out on ourown and create a new identity. We are determined to provide world-class products and services to meet the expectations of our customers and to do this, we have to establish an identity that is professional and independent. "The new name is sufficiently different from the old to warrant a new start, yet pragmatically close to that of the mother company, Shin Corporations, to express the synergy we share with the rest of the group." The change in the company name follows shortly after the announcement in June of this year that it would launch a broadband satellite at the start of the new millenium. Shinawatra Satellite has always been one of the most innovative of satellite operators in Asia, launching the first digital Ku-Band satellites in the region and pioneering the use of the ground-breaking MPEG-2/DVB compression that made it into the top-selling company in India and most of Indochina. With the forthcoming name change, the company looks forward to introducing a more multimedia-oriented service over the next couple of years. Shinawatra Satellite currently spends roughly 2-3 per cent of its revenue on research and development, an investment that is expected to pay off as it approaches the launch date in late 2001, early 2002, of a satellite that it has been developing over the last two years. For More information please contact : Marketing Communications, Shinawatra Satellite Plc, Tel. (66 2) 591-0736 to 49 Ext. 421 Fax. (66 2) 591-0714 End.

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