OPERATING RESULTS : PL

A/C 0178/2543 May 15, 2000 Managing Director The Stock Exchange of Thailand Subject : Clarification of the operating result with over 20 percent change According to PHATRA LEASING PUBLIC COMPANY LIMITED operating result which show Baht 17.52 million of net income in the interim financial statements for the six-month periods ended March 31, 2000 increased from the prior year Baht 7.67 million or 77.87 % change. We would like to clarify that this change came from as follows: 1. The interest expenses decrease Baht 15.43 million or 47.82% 2. The direct rental cost decrease Baht 11.77 million or 9.73% whereas the leasing rental income decrease Baht 22.55 million or 12.50% Yours sincerely, ( Krirkchai Siribakdi ) President