THE OPERATING RESULTS CHANGE FOR MORE THAN 208F NET PROFIT

A/C 00182/2002 May 14 2002 Managing Director The Stock Exchange of Thailand Subject: Clarification of the operating results change for more than 20 % of net profit for the second quarter ended March 31,2002 The company operating result which show net profit amount of Baht 31.96 million for the interim financial statements for the period ended March 31,2002 increase from the same of period by Baht 7.54 million or 30.88% which excess 20 %. We would like to explain the causes of this change as follows: 1. The total revenue increase by Baht 37.29 million or increased 20.89 % and total costs increased by Baht 31.63 million or increased 22.45% causes to the company have earning excess the previous year. 2. Due to the interest expense increased by Baht 0.45 million or increased 2.49 % while borrowing increased by Baht 256.35 million when compare to last year. In addition, partly result from the new issue of debentures amount Baht 400 million with interest rate 6 % p.a. to replace the expired debentures amount Baht 350 million with interest rate 8% p.a. For your acknowledgement Sincerely, (Krirkchai Siribhakdi) President