GS ASSET MANAGEMENT REPORTS OSP EXPIRES

GS Asset Management Co Ltd (GSAM) announced one unit trust Om-Sin Permpunsub Fund (OSP) whose maturity would be expired on Aug 16, 1997 was approved by SEC on Jul 15, 1997 to change its programme to open-end fund, details as follows: 1. On Aug 15, 1997 at noon it would close OSP registration book in which unit trust holders stated are entitled to further hold the units or repurchase. 2.The company requested to suspend OSP trading in the SET on Aug 11- 15, 1997 thereafter. 3.To delist OSP out of the SET since Aug 18, 1997 afterwards. The company would like all unit trust holders to file their intention forms to the company within Aug 15, 1997. If one dose not show any intention, it is assumed that they want to further hold the units. Other details are available, please contact 263-0800 -Department of Business & Marketing Development ext 205, 206, 208 and 209 -Department of Unit Holder Service ext 502-506 Summary of OSP's Details Project Name: Om-Sin Permpunsub Open-end Fund Project Type: Open-end mutual fund investing in capital instruments Project Term: Not fixed (beginning Sep 11, 1997) Project Objectives: the same as close-end OSP Investment Policy: The fund focuses on capital stocks of company limited that have good fundamental factors and high growth trend. The investment proportion of investment in capital stocks, listed on SET and those allowed by SEC for offering publicly, accounts for about 75% of the fund's asset value. Of this, 50% will be invested in SET listed issues and the other will be invested in any instruments approved by the SEC Dividend Payment Policy: The project has a policy to pay dividends at least once a year. The minimum dividend payment will represent 50% of each period's net profit. The payment may be appropriated from the project's retained earnings when seen appropriate by the company, who may also consider not to pay dividend in any periods the earning per share is lower than Bt0.25. Project's Registered Capital: Bt1.5 billion Number of Unit Trusts: 150 million units Par Value: Bt10 per unit Unit Type: Name-specified Fund manager : GSAM Custodian: Bank of Citybank NA (Bangkok branch) Registrar: Bank of Om-Sin Plc Sale agent: -seeking- Significant Additional Information Initial Public Offering: Om-sin Perm Poon Open-end Fund is a project amended from Om-sin Perm Poon Sub Closed-end Fund upon the maturity, so there would be no initial public offering. GS Asset Management Co., Ltd. will scrap unit trust certificates of the OSP, then will record names of unit holders who do not express their intentions to sell back the units upon the project maturity as holders of the open-end OSP. The unit trust certificates of the open-end fund will be sent to the said unit holders within 15 days from the date the open-end fund is registered. Source of Additional Information: Unit holders and those interested may ask for the prospectus and purchase order form/sell-back order form at GS Asset Management Co., Ltd. or its representatives on every working days. Fund Registration Date: Expectedly, the open-end OSP will be registered with SEC on September 11, 1997. Later Offerings and Working Days: On Tuesdays, until 12.00 hrs. If a Tuesday falls on a holiday, the following working day will take the place. Tuesday, September 16, 1997 is the first offering day. Offering Price: The selling price will be at the unit value as at the end of the trading date, plus unit selling fee at the rate specified. Minimum Purchase Order: Bt10,000 Offering Methods: 1. Management company or representative: Unit buyers must fill in the "unit purchse order form" and "application for open-end fund subscription" for first purchase order. The payment may be made in cash, credit to bank account, cheque, draft made payable to the "account for subscription to open-end OSP units" and must be collectible within the same date of purchase and the same account clearing territory as that of GS Asset Management or that of the representative office. Name, address, and telephone number of subscriber must be given at the back of cheque or draft. 2. Postal order: Details must be filled in the "unit purchase order form", specifying clearly the amount to purchase. Payment can be made in draft or money transfer into the "account for subscription to open-end OSP units". Drafts must be collectible within the Bangkok account clearing territory. Then, the "unit purchase order form", draft, or money transfer evidence, and certified copy of buyer's identity card should be sent via reply mail to GS Asset Management. Unit Repurchases and Working Days: On Tuesdays, until 12.00 hrs. If a Tuesday falls on a holiday, the following working day will take the place. Tuesday, September 16, 1997 is the first repurchase day. Repurchase Price: The repurchase price will be at the unit value as at the end of the trading date, deducted by unit repurchase fee at the rate specified. Minimum repurchase Value: Bt1,000 or 100 units Unit Repurchase Methods: Management company or representatives: 1. Unit holders wishing to sell back the units must fill in the "unit sell-back order form" and sepcify either the amount of money expecting from the sell back or number of units wishing to sell back. 2. General individuals must show their identity card while corporates must show documents needed for legal businesses such as letter of authorization and memorandum of association. Postal sell-backs: 1. Unit holders wishing to sell back the units by mail must fill details in the "unit sell-back order form" and specify either the amount of money expecting from the sell back or number of units wishing to sell back. Certified copy of identity card must be enclosed in case of general individuals. For corporates, documents needed for legal businesses must be attached. GS Asset Management reserves its right to reject orders lacking complete and clear details as well as sufficient documents. 2. Unit sell-back orders must be sent together with required documents to GS Asset Management via reply mail only. The company will handle the trading on the following working days from the date receiving the sell-back orders. The price used will be what calculated from the unit value as at the end of the trading date, deductec by the repurchase fee. Other conditions for repurchase: 1.If GSAM can not repurchase most of unit trusts holders intend to sell, holder may annul the sale before 12.00am on working day by calling or contacting in person. 2.If number of units or remunerations are higher than that they hold, the company assumes they intend to sell total of them. 3.The decrease of repurchased units would be carried out on working day following trading day, GSAM or delegate would repay for holders by sending endorsed cheques or deposit in account within 4 days from trading day. Registrar would issue statement of unit trust, receipt, tax invoice, etc within 4 days too. 4.If trading day is changed, it must be reported to the SEC and holders prior not lower than 15 days. Fee charged from holder or purchaser : 1.Selling fee at not over 1% of unit value, but only 0.5% for initiative 2.Repurchase fee at not over 1% of unit value, but only 0.5% for initiative 3.Price transfer fee at the rate determined by commercial bank 4.Transfer fee at not over Bt50 per 1,000 units or its odds 5.Fee charged when name, address is changed determined generally Those charges above include VAT or any relevant duties. Unit holders wishing to sell back the unit trusts should follow steps below: 1. Completely fill and sign (/) in No. 1 for the form to sell back the units in OSP when maturity. 2. Endorse all the unit trust certificates to sold back. 3. Post the completely filled intention form , all the unit trust certificates, and certified copy of identity cards or other evidences stated in the conditionsin the arranged envelope to MFC. The mail should arriveat the company by August 15, 1997. GS reserves righs to provide the unit trust to unit trust holders who did not file the intention form after the mentioned date. 4. The company will buy back unit trusts of every holders sending the mentioned documents to the company by August 15,1997. The price will be based on the net asset value of the fund as at the 2nd working days ahead of forwarding the revision of the registeration list so as to turn the type of management project to the open-end fund. 5.The holders will received the endorsed cheque for the sold back payment via registered mail within 15 days following the registered day Holders wishing to keep their unit trusts held should follow steps below: 1. Completely fill the form of intention and sign (/) in No.2 of the form to confirm unit trust holding. 2. Endorse all the unit trust certificates to sold back. 3. Post the completely filled intention form , all the unit trust certificates, and certified copy of identity cards or other evidences stated in the conditionsin the arranged envelope to MFC. The mail should arriveat the company by August 15, 1997. GS reserves righs to provide the unit trust to unit trust holders who did not file the intention form after the mentioned date. 4. The holders, within 15 days, will received the statement issued by the company following the registered day. Holders wishing to sell partially unit trusts have to comform with steps as follows: 1. Completely fill the form of intention and sign (/) in No. 3 for the form to confirm of partially selling back the units in OSP with specifying the amount of them under the terms as below: - The holders holding less than 500 units are unable to partially sell back.The company assumes that the holders wish to sell wholly back. - After partially selling back, The holders remains the units less than 500 units, it will be assumed that the holders intend to sell all of them 2. Endorse all the unit trust certificates to sold back. 3. Post the completely filled intention form , all the unit trust certificates, and certified copy of identity cards or other evidences stated in the conditionsin the arranged envelope to MFC. The mail should arriveat the company by August 15, 1997. GS reserves righs to provide the unit trust tothe holders who did not file the intention form after the mentioned date. 4. The company will buy back unit trusts of every holders sending the mentioned documents to the company by August 15,1997. The price will be based on the net asset value of the fund as at the 2nd working days ahead of forwarding the revision of the registeration list so as to turn the type of management project to the open-end fund. 5.The holders will received the endorsed cheque for the partially sold back payment via registered mail within 15 days from the day that registered to the opend-end fund. The holders , buying the unit trusts from finance and securities company or securities firm without the statement of unit trusts, have to fill the form of intention and, within August 15,1997, send it along with the duplicate of the identity card with signature or other documents that stated in the conditions of intention to the finance and securties or securities firm which will further inform to the company