Board of Directors of Asian Marine Services Public Company Limited

Subject: Corporate Governance Policies

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            In order for Asian Marine Services Public Company Limited to possess operating practices that comply with internationally recognized standards for good management, reinforce management and operational efficiency to gain acceptance, and build confidence among shareholders, investors, and all stakeholder groups, in alignment with the principles of Good Corporate Governance of the Stock Exchange of Thailand;

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            The Board of Directors therefore established the following corporate governance policies for Asian Marine Services Public Company Limited, for acknowledgment and consistent implementation as follows.

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     1. Provide management and operations by adhering to the good corporate governance principles, eliminate conflicts of interest with honesty, integrity, prudence, reasonableness, and independence within a good ethical framework.

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     2. Provide efficient systems of financial control, operations, compliance supervision, internal audit, control, and risk management, with a review of these systems at least annually.

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     3. Promote, supervise and monitor to ensure the Company’s key data and information are disclosed accurately, promptly, and transparently.

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     4. Promote and support the equal treatment of all shareholders, in accordance with the principles of a public company limited.

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     5. Promote, supervise and monitor to ensure that the legal rights of stakeholders – including customers, employees, business partners, shareholders, investors, creditors, competitors, independent auditors, the government sector, and the communities where the Company operates – are looked after and treated fairly.

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            Furthermore, to encourage participation in management and provide a mechanism for monitoring, overseeing, improving, and evaluating performance to ensure successful achievement of the aforementioned vision, mission, and policies, the Company has delegated the Executive Committee to study and consider relevant guidelines. The committee will then present its findings and recommendations on operating guidelines, including the concrete implementation of the approved operating guidelines.

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Announced on December 4, 2007

  -Signature-

(Mr. Prakit Pradipasen)

 Chairman of the Board of Asian Marine Services Public Company Limited