SET Announcements

August 14, 1998 To : The President Stock Exchange of Thailand Re : Submission of financial statements for the 2nd quarter of 1998 and explanation on the difference over 20 percent from the same period last year. Enclosures : Financial statements for the 2nd quarter of 1998 We are sending you herewith the enclosed financial statement of the Company and the consolidated statement of the group for the 2nd quarter of 1998 ended 30th June, 1998. Even the group was able to improve its sales revenue for this 2nd quarter of1998 over the previous quarter, however when compares with the same quarter of last year our advertising income was a lot lower. That is because of the big drop of our advertising air-time sales in both television and radios which we have experienced since the later part of the 3rd quarter last year,as a result of the changes of economic conditions since then. Even our other income increased but that does not suffice when compares with the drop of advertising air-time sales while the operating costs were slightly increased, thus the net profit declined from the same period of last year over 30 per cent. The afore-mentioned reasons apply for both the result of the Company as well as the consolidated result of the group. Please be informed accordingly. Sincerely Yours, (Chatchai Thiamtong) Vice President - Finance