Ref.No. IVL 002/07/2010


29 July 2010


President
The Stock Exchange of Thailand


Subject:Report of the Utilization of Capital Increase from IPO


With reference to Indorama Ventures Public Company Limited ("the Company")
issued new shares for capital increase by initial public offering ("IPO") of
400 million shares, during the period at 25th - 27th January 2010 at the IPO
price of Baht 10.20 per share, totaling net amount of Baht 3,743 million after
deduction of the expenses for initial public offering and exchange offer.

IVL and its subsidiaries have invested an amount of Baht 652 million in the
form of investment in new growth projects this year to date being acquisition
of the Utility project in Rotterdam and the Joint Venture in Italy to produce
PTA and PET. Further, Baht 1,223 million has been used for reducing the
utilization of working capital loans while the working capital line continues
to be available for future use.

The Company and its subsidiaries in addition to the IPO proceeds has generated
cash-flow from its operations and the combined cash flow has been used to
reduce the net gearing of the company's consolidated balance sheet as on date.

IVL and its subsidiaries have as on 30th June 2010 cash and cash equivalents
of around Baht 2,200 million and undrawn Banking lines of around Baht 15,800
million.


Please be informed accordingly


Yours faithfully,


(Mr. Ashok Jain)
Joint Vice President