(BSNS WIRE) King Power International Group Announces a Going-Private Transa
King Power International Group Announces a Going-Private Transaction


        Business Editors

           BANGKOK,   Thailand--(BUSINESS   WIRE)--Oct.   15,  2001--King  Power
International  Group  Co.,  Ltd.  (Amex:KPG)  ("KPG"  or  the  "Company")  today
announced  that its Board of Directors has, on the  recommendation  of a Special
Committee  composed of independent  directors,  approved a merger transaction in
which KPG will be taken private by shareholders  Vichai  Raksriaksorn,  Viratana
Suntaranond,   Aimon  Raksriaksorn,   Niphorn  Raksriaksorn  and  several  other
shareholders  who together  hold  approximately  88.6% of the  Company's  common
shares (the "Majority Shareholders").
           Under the terms of the  merger,  KPG's  shareholders  other  than the
Majority  Shareholders  will, upon consummation of the merger,  cease to have an
equity interest in the surviving  corporation.  Their common shares will instead
convert,  upon consummation of the merger, into the right to receive cash in the
amount of US$1.534 per share, or approximately US$3,531,268 in the aggregate.
           In describing one of the principal motivations for the merger, Vichai
Raksriaksorn,  who is also KPG's Group  Chairman  and Chief  Executive  Officer,
stated  that "the  Company  does not receive any  significant  benefit  from its
status as a public company listed on the American Stock Exchange  ("Amex").  The
Company has not accessed the U.S. public capital markets for the past four years
and does not anticipate doing so in the foreseeable future."
           Following  the  merger,  the  common  shares of KPG will  cease to be
listed on Amex.  KPG also intends to apply to the U.S.  Securities  and Exchange
Commission (the "SEC") to terminate its  registration as a public company in the
United States.
           Prior to  approving  the  merger,  the  Board of  Directors  formed a
Special  Committee  comprising  three  independent   directors  whom  the  Board
determined were not affiliated,  associated,  or employed by KPG or the Majority
Shareholders.  The Special  Committee was tasked by the Board to act in the best
interests of the shareholders who are not Majority  Shareholders in conducting a
review of the fairness of the  transaction  and, if necessary,  to negotiate the
amount of the cash  consideration.  Following its review,  the Special Committee
recommended  that the Board approve the merger as being fair to, and in the best
interests of, the shareholders who are not Majority Shareholders.
           In addition, KPG engaged CLSA Equity Capital Markets Limited ("CLSA")
to perform a valuation of the Company's  common  shares,  and CLSA presented the
completed  valuation to both the Special  Committee  and the full Board prior to
their approving the merger.  In addition,  CLSA has delivered a fairness opinion
to  the  Board  with  respect  to  the  cash  consideration  to be  paid  to the
shareholders other than the Majority Shareholders.
           The  Company  explained  that the merger  remains  subject to certain
conditions,  including  approval by KPG's  shareholders.  The  Company  does not
anticipate  any   difficulty  in  obtaining  this  approval,   as  the  Majority
Shareholders  together  hold a  substantial  majority of KPG's common shares and
have indicated their intention to vote in favor of the merger.
           The date,  time and location of the  shareholders  meeting to approve
the merger will be  announced  at a later date,  as will the record date for the
meeting.  Further  details of the merger and related  information of interest to
shareholders  will be provided in a proxy statement to be mailed to shareholders
prior to the shareholders  meeting. The Company anticipates filing a preliminary
version of this proxy statement with the SEC shortly.

           Note: News releases and other  information on King Power Group can be
accessed  at  www.kingpower.com   and   www.kingpowerinternational.com   on  the
Internet.

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           The above information contains certain forward-looking statements and
information  relating to the Company that is based on the beliefs of the Company
or management as well as assumptions made by and information currently available
to  the  Company  or  management.   When  used  in  this  document,   the  words
"anticipate,"   "believe,"   "estimate,"  "expect,"  and  "intend"  and  similar
expressions,  as they relate to the Company or its  management,  are intended to
identify forward-looking statements. Such statements reflect the current view of
the  Company   regarding  future  events  and  are  subject  to  certain  risks,
uncertainties  and  assumptions,  including the risks and  uncertainties  noted.
Should  one or more of  these  risks or  uncertainties  materialize,  or  should
underlying assumptions prove incorrect,  actual results may vary materially from
those  described  herein  as  anticipated,   believed,  estimated,  expected  or
intended. In each instance,  forward-looking information should be considered in
light of the accompanying  meaningful cautionary statements herein. Factors that
could  cause  results to differ  include,  but are not  limited  to,  successful
performance of internal plans,  the impact of competitive  services and pricing,
and general economic risks and uncertainties.

    --30--mjr/da*

    CONTACT: Halter Capital Corporation
             Kevin B. Halter, 469/633-0100 ext. 200