Parson Power has entered into Engineering Services Agreement with Westinghouse Electric Corp. to provide
engineering service in connection with Independent Power Thailand Co., Ltd. (IPT) project to be constructed
for Thai Oil’s 700 MW combined cycle plant at Sriracha, Chonburi province.

Parsons employed DEC to retain on a task assignment to provide such services to the requirement of the contract.

The total construction cost of this project is approximately US$ 700 million (Exchange rate $ 1 = 41 Baht, Year 1998)