SET Announcements

January 26, 2004 TO: President The Stock Exchange of Thailand RE: Loaned to Virgin BEC-TERO Radio Services (Thailand) Limited This is to inform that BEC-TERO Entertainment Plc. [BEC-TERO] had granted loans of Baht 22.50 million to Virgin BEC-TERO Radio Services (Thailand) Limited [VBRT], its associate company - this facility was in accordance with a condition in the joint venture agreement between BEC-TERO and Virgin Radio (Asia) Limited [VRA]. These loans are due for repayment on 31 December 2005, at an interest rate of 10.55-11.10% per annum - also calculated in accordance with the JV agreement. Details of the transaction are as per the enclosed disclosure form. VBRT is an associate company of BEC-TERO - a subsidiary which BEC holds 60% of its registered share capital, whom BEC-TERO has 49% interest. Please be informed accordingly. Sincerely Yours, (Chatchai Thiamtong) Vice President - Finance Information of the loans facility which the subsidiary give to its associate company Report date: January 26, 2004 1. Type of transaction: our subsidiary loaned to its associate company 2. Parties: Between BEC-TERO Entertainment Plc. [BEC-TERO] (lender) and Virgin BEC-TERO Radio Services (Thailand)Limited [VBRT] (borrower) Relationship: VBRT is a joint venture between BEC-TERO our subsidiary which BEC holds 60% of its registered share capital, and Virgin Radio (Asia) Limited [VRA], whereas BEC-TERO has 49% interest. 3. Amount of loan: Baht 22.50 million 4. Characteristic of transaction: The transaction was a facility loans to associate company, due to the condition of the JV agreement. These loans will repayment on 31 December 2005. The interest rate is fixed at 10.55-11.10% per annum, this rate is an average rate of five Thai banks' deposit rate on the transaction date and plus 4% - as stated in the JV agreement.