Report on the Utilization of Capital Raising funds of Thai Airways International Public Company Limited

Regarding to Thai Airways International Public Company Limited (the "Company") received the proceeds from the capital increase of 285 million new ordinary shares at the offering price of Baht 50 per share,totaling Baht 14,250 million on November 25, 2003. The Company would like to inform the utilization of capital raising funds for the six month  period, ending December 31, 2003. The Company were be  invested the Suvarnabhumi Airport Project amount Baht 496 million and the remaining amount Baht 13,754 million.