CLARIFICATION OF THE OPERATING RESULTS CHANGE MORE THAN 20%

A/C 0058/2003 February 14 2003 Managing Director The Stock Exchange of Thailand Subject: Clarification of the operating results change for more than 20 % of net profit for the first quarter ended December 31,2002 The company operating result which show net profit amount of Baht 37.41 million for the interim financial statements for the period ended December 31,2002 increased from the same period of last year Baht 10.95 million or 41.38% which excess 20 %. We would like to explain the causes of this change as follows: 1. Total revenue increased from the prior year of the same period Baht 21 million or increased 9.49%, with the rise in the cost and expenses increased by Baht 14.94 million or increased 8.47% was due to the company's capability to expand the lease assets being higher than last year. This increasing correlated to the sale growth in automobile industry and thus has been continuing in growth trend. 2. Income tax decreased by Baht 4.90 million or decreased 26.90% from previous year was due to the company adjusted deferred income tax to expense. This adjustment derived from the company gain in income tax advantage changing from 30 % to 25 % with in 5 fiscal years. Presently, in this year the company still get the benefit of income tax rate of 25 % and no deferred income tax adjusted to expenses from that change. We trust you will find the above information in order. Sincerely, (Krirkchai Siribhakdi) President