F 53-5

Ref.No.IVL014/02/2011

28 February 2011


Subject: Report on the result of Transferable Subscription Right of
Indorama Ventures Public
Company Limited No. 1 (IVL-T1)

To: President of the Stock Exchange of Thailand


Indorama Ventures Public Company Limited ("the Company") has issued and offered
481,582,397 units of Transferable Subscription Right of Indorama Ventures Public
Company Limited No. 1 (IVL-T1) ("TSR"), without consideration, to its existing
shareholders. Details of the allotment are as follows:

Number of IVL-T1 481,582,397 units
Amount of reserved shares 481,582,397 shares
Exercise ratio 1 unit of IVL-T1 : 1 ordinary share
Exercise price Baht 36.00
Exercise period 10-24 February 2011

The Company would like to report on the results of the exercise of IVL-T1 as
follows:
1. Results of the exercise:
Number of exercisable IVL-T1 481,582,397 units
Number of IVL-T1 exercised 479,986,198 units
Balance of the exercisable IVL-T1 1,596,199 units

Total number of ordinary shares in reserve under IVL-T1
481,582,397 shares
Number of ordinary shares in reserve for the exercise
479,986,198 shares
Balance of the reserved ordinary shares
1,596,199 shares

2. Details of the share sold in this exercise:
Number of subscribers 3,182 people
Number of ordinary shares subscribed 479,986,198 shares
Amounting to per cent of the total number of ordinary shares
offered for sale 99.67%

3. Sum of money received from the share sale
Total amount Baht 17,279,503,128

Less Expenses (estimated) Baht 58,000,000
Net amount received Baht 17,221,503,128


The amount of unexercised IVL-T1 is 1,596,199 units which are no longer being
listed securities on 26 February 2011 and can no longer be exercised.
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