SINGAPORE (Standard&Poor's) Aug. 20, 2004--Standard&Poor's Ratings Services said today that a potential sale by Thailand's PTT Exploration&Production Public Co. Ltd. (PTTEP; foreign currency BBB/Positive/--, local currency BBB+/Positive/--) of its 40% stake in New Links Energy Resources Ltd. should not by itself have an impact on PTTEP's rating. New Links is the holding company that owns 85.5% of Indonesian oil and gas company, P.T. Medco Energi Internasional Tbk. (Medco; B+/Stable/--). PTTEP had purchased its stake in New Links for US$225 million at end-2001. At this stage, it remains uncertain if the sale of PTTEP's equity interest in New Links will take place. In addition, the likely timing of a potential sale, and the magnitude of
