SET Announcements

November 08, 2006 To: President, Stock Exchange of Thailand Re: Submission of Financial Statements for the 3rd Quarter of 2006 Enclosures: Financial Statements for the 3rd Quarter of 2006 and the relevant management discussion and analysis We are sending you herewith the enclosed financial statements of the company and the consolidated statement of the group for the 3rd quarter of 2006 ended September 30, 2006, which were reviewed by the Auditor and our Audit Committee has already reviewed them. BEC World group was able to made Baht 427 millions as its net profit for the third quarter of 2006, higher than that of the same period of last year by 107 percent or Baht 220 millions, as the advertising income was continuously improved further since the last quarter of previous year, from the higher utilization rate of our commercial air-time, while our costs and expenses were quite stable. Therefore, our operating margin had improved substantially. However, this profit is still lower than that of the prior quarter by Baht 38 millions thus a minus of 8 percent as advertising revenue is slightly lower down in accordance with the business season. The operating results are discussed further in the attached management discussion and analysis. Please be informed accordingly. Sincerely Yours, (Chathai Thiamtong) Vice President - Finance BEC World Plc. Consolidated Financial Statements for the 3rd Quarter of 2006 Management Discussion and Analysis: Operating Results: BEC World group was able to made Baht 427 millions as its net profit for the third quarter of 2006, higher than that of the same period of last year by 107 percent or Baht 220 millions, as the advertising income was continuously improved further since the last quarter of previous year, from the higher utilization rate of our commercial air-time, while our costs and expenses were quite stable. Therefore, our operating margin had improved substantially. However, this profit is still lower than that of the prior quarter by Baht 38 millions thus a minus of 8 percent as advertising revenue is slightly lower down in accordance with the business season. Revenue: For the third quarter of 2006 BEC World group had Baht 1,534 millions as advertising income higher than that of the same period last year by 30 percent, up Baht 350 millions. This is the results of higher utilization rates, continuously improved further since the last quarter of previous year. But this is 4 percent lower than that of the prior quarter; lower down by Baht 61 millions because of the business seasonal factor. Our Copyright revenue is also increased continuously as we were able to sell our previously used television series in VCD format for home entertainment. However, revenue from concerts and shows dropped from last year's level as we had excluded revenue of ThemeStar out from our consolidated statement this year as it had been transformed from being a subsidiary to being just an associated company at the end of last year; but it increases substantially when compares with that of the previous quarter (+278%) as we organize an ATP tennis tournament around the end of the third quarter every year since 2003. Costs and Operating Expenses: Costs and operating expenses had been stable and are back at normal, not increased at a high rate as happened last year as the group had completed its planned expansion programme. Costs of concerts and shows were lower down than that of last year as we had excluded those of ThemeStar out from our consolidated statement this year as it had been transformed from being a subsidiary to being just an associated company at the end of last year. When compared these costs and expenses on the same base with those of previous quarter, they were increased in line with the revenue. Financial positions: Our total assets at the end of the quarter increased when compared with that of the end of last year in line with profit. Majority of our assets is still in the form of cash and cash equivalents as usual. However, it was lower down when compares with previous quarter after interim dividend and half year corporate income tax have been paid. The Shareholders' equity as at September 30, 2006 is amounting to Baht 5,861 millions.