OPERATING RESULTS

A/C 00148/2001 May 11, 2001 Managing Director The Stock Exchange of Thailand Subject: Clarification for increase for more than 20 % in the company net profit for the interim financial statement for the period ended March 31,2001 when compared to the same previous period. The company operating result which show net profit amount of Baht 24.42 million for the interim financial statements for the period ended March 31,2001 increase from the same of period by Baht 6.91 million or 39.44% which excess 20 %. We would like to explain the cause of this change as follows: 1. The revenue from rental income increase amount Baht 9.46 million or 5.99% because of increase volume of clients compared with previous period. 2. The direct rental cost and expenses decrease by Baht 2.10 million or 1.50 % from the previous period. 3. The interest expense increase by Baht 1.18 million or 7.03% from the previous period due to the increment loans about 10.50% and reduction of interest rate. Hence, the operating result of the company net profit was 39.44% excess the previous period. Sincerely, (Krirkchai Siribhakdi) President