Clarification of change in operating results in excess 20%

A/C 0480/2005 13 May 2005 Directors and Manager The Stock Exchange of Thailand Subject: Clarification of the change in the operating results according to the financial statements (profit and loss statements) in excess of 20% of net profit for the second quarter ended 31 March 2005 The Company's operating results for the period ended 31 March 2005 showed a net profit of Baht 44.82 million in the financial statements being a decrease or reduction in the net profit of Baht 19.05 million or 29.83% compared to the same period for the preceding year, or reduction over than 20%. The Company would accordingly like to clarify the reasons for this change as follows: The Company's earnings from gain on sale of assets held for lease and property foreclosed in the second quarter of 2005 is less than the preceding year in the amount of Baht 22.49 million or 76.02 % compared to the same period for the preceding year. This is due to the fact that the volume of the rental leased termination type with no option to buy in the second quarter of 2005 is less than the preceding year, reflecting in a reduction in the gain on sale of assets held for lease and property foreclosed. Therefore, during the second quarter of this year,the Company has earned a net profit of Baht 44.82 million, being a decrease or reduction over the preceding year of Baht 19.05 million, or 29.83% For your kind attention. Yours sincerely, President (Mr. Krirkchai Siribhakdi)