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RATING OUTLOOK ON TWO THAI CORPORATES TO STABLE BY S&P

NEW YORK, May 6 /PRNewswire/ -- Standard & Poor's today affirmed its triple-'B'-minus long-term local and foreign currency ratings on PTT Exploration and Production Public Co. Ltd. and revised the rating outlook to stable from negative.  Standard and Poor's also affirmed its triple-'B'-minus local and foreign currency ratings on Advanced Info Service Public Co. Ltd (AIS) and revised the rating outlook of the foreign currency rating to stable from negative.  The outlook of the long-term local currency rating on AIS remains at stable.  The outlook changes follow Standard & Poor's outlook revision on the Kingdom of Thailand's credit ratings to stable from negative (see related press release dated May 5, 1999).  Yesterday, Standard & Poor's affirmed its single-'A'-minus long-term local currency and its triple-'B'-minus long-term foreign currency sovereign and senior unsecured ratings on Thailand.  Standard & Poor's also affirmed its 'A-2' short-term local currency and 'A-3' short-term foreign currency issuer credit ratings on the Kingdom. -- CreditWire        RATINGS AFFIRMED; OUTLOOK REVISED TO STABLE     PTT Exploration and Production Public Co. Ltd.      Rating     Local currency corporate credit rating        BBB-/Stable/--     Foreign currency corporate credit rating      BBB-/Stable/--     Senior unsecured debt                         BBB-     Advanced Info Service Public Co. Ltd.     Foreign currency corporate credit rating      BBB-/Stable/--     RATING AFFIRMED     Advanced Info Service Public Co. Ltd.     Local currency corporate credit rating        BBB-/Stable/--    SOURCE  Standard & Poor's /CONTACT:  Ee-Lin Tan, Singapore, 65-239-6394, or Andrew Lee, Singapore, 65-239-6302, both of Standard & Poor's/  /Web site:  http://www.standardandpoors.com/ratings/  CO:  Standard & Poor's ST:  Thailand IN:  FIN SU:  RTG 
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