รายงานต่อตลาดหลักทรัพย์ฯ

November 27, 2001 To: President Stock Exchange of Thailand Re: Joint Venture Project with "SONY MUSIC" BEC-TERO Entertainment Co., Ltd. [BEC-TERO] our 60 percent held subsidiary has just signed a memorandum of understanding (MOU) with SONY MUSIC (ASIA) INC. [SONY MUSIC] which is not a connected person with the company and the management, to jointly set up a new joint venture company to be called Sony BEC-TERO Music Entertainment Co., Ltd. to acquire domestic music business of both parties which will be further operated by the new joint venture company that BEC-TERO will hold 40 percent of its equity where as SONY MUSIC will hold the rest. It is expected that the new joint venture company will commerce its business on January 1, 2002. Please be informed accordingly. Sincerely Yours, (Chatchai Thiamtong) Vice President - Finance