S&P LOWERS FOREIGN CURRENCY RATINGS ON THAI COMPANIES

NEW YORK, Jan. 8 /PRNewswire/ -- Standard & Poor's today lowered its long-term foreign currency ratings on PTT Exploration & Production Public Co. Ltd.
(PTT E&P), PTTEP International Ltd., and Advanced Info Service Public Co. Ltd.
These downgrades follow the same action taken today on the foreign currency
ratings of the Kingdom of Thailand (see related press release). 
PTT E&P's rating reflects its key public policy role, its close
operational ties to the government of Thailand, and its competitive position
in the oil and gas industry. A negative rating outlook reflects the outlook on
the Kingdom of Thailand. 
Ratings on Advanced Info Service continue to reflect its solid business 
base in Thailand for mobile telephones, and the company's satisfactory balance
sheet and financial profile. A negative rating outlook reflects the outlook on
the Kingdom of Thailand. 
In addition, Standard & Poor's double-'B' long-term foreign currency
corporate credit and senior debt ratings on Total Access Communication Public
Co. Ltd. remains on CreditWatch with negative implications, where it was
placed Nov. 19, 1997. 


    OUTSTANDING RATINGS LOWERED
                                                            Rating
                                                          To       From
    PTT Exploration & Production Public Co. Ltd.
      Long-term foreign and local currency ratings        BBB-     BBB
      Y23 billion 3.35% bonds due 2007                    BBB-     BBB
    PTTEP International Ltd.
      US$200 million Rule 144A notes                      BBB-     BBB
    Advanced Info Service Public Co. Ltd.
      Long-term foreign and local currency ratings        BBB-     BBB



SOURCE  Standard & Poor's CreditWire 
-0-                           1/8/98 
/CONTACT: Christopher H. Legge, Melbourne, 61-3-9250-4573, or Cem
Karacadag, New York, 212-208-8984, both of Standard & Poor's/ 
/Web site:  http://www.ratings.standardpoor.com/ 
CO:  PTT Exploration & Production Public Co. Ltd.; PTTEP International Ltd.; 
 Advanced Info Service Public Co. Ltd.
ST:
IN:
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-0- (PRN) Jan/08/98   18:06
EOS   (PRN)    Jan/08/98    18:06      **
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-0- (PRN) Jan/08/98   18:21 
 
 
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