CLARIFICATION OF THE OPERATING RESULT WITH OVER 20 PERCENT

A/C 00062/2543 February 14, 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 16.01 million of net income in the interim financial statements for the three-month periods ended December 31, 1999 increased from the prior year Baht 8.58 million or 115.46% change. We would like to clarify that this change came from as follow: 1. The interest expenses decrease Baht 26.40 million or 57.68% 2. The direct rental cost decrease Baht 22.55 million or 16.84% whereas the leasing rental income decrease Baht 34.53 million or 17.23% Yours sincerely, ( Krirkchai Siribakdi ) President