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09 พฤศจิกายน 2548

Submission of F/S for the 3rd Quarter of 2005 with MD&A

November 9, 2005 To: President, Stock Exchange of Thailand. Re: Submission of Financial Statements for the 3rd Quarter of 2005. Enclosures: Financial Statements for the 3rd Quarter of 2005 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 2005 ended September 30, 2005, which were reviewed by the Auditor and our Audit Committee has already reviewed them, also. BEC World group was able to made Baht206 millions as its net profit for the third quarter of 2005, an decrease of Baht 23 millions -10 percent lower than that of the prior quarter as the result of the decrease of advertising income from seasonal factor. This profit is still lower than that of the same period of last year (by 46 percent) as same asincurred in the previous few quarters, but the gap has already been reduced because of the improvement in our revenue generating ability as discussed further in the attached management discussion and analysis. Please be informed accordingly. Sincerely Yours, (Chatchai Thiamtong) Vice President - Finance BEC World Plc. Consolidated Financial Statements for the 3rd Quarter of 2005 Management Discussion and Analysis: Operating Results: BEC World group was able to made Baht206 millions as its net profit for the third quarter of 2005, a decrease of Baht 23 millions - 10 percent lower than that of the prior quarter as the result of the decrease of advertising income from seasonal factor. This profit is still lower than that of the same period of last year as same as incurred in the previous few quarters, but the gap has already been reduced because of the improvement in our revenue generating ability in accordance with the improvement of Channel 3's viewership shares which are higher every month for the last 6 months. Revenue: Sales Revenues: 3Q05 2Q05 QoQ3 Q04 YoY Adverting Income 1,183 1,270 -86 6.8% 1,344 -161 -12.0% Copyright and Other Services 79 42 37 87.9% 39 40 101.8% Concerts and Shows 201 402 -201 -50.0% 189 12 6.4% Total Sales Revenues 1,463 1,714 -250 -14.6% 1,572 -109 -6.9% For the third quarter of 2005 BEC World group had Baht1,183 millions as advertising income lower than that of the prior quarter by 7 percent because of the seasonal factor. This is still 12 percent lower than that of the same period of last year as the results of lower utilization rates achieved during the quarter, especially during the primetime, as a consequence of the softness in overall ad-spending caused by deteriorating general economic conditions. However, the gap has already been reduced because of the improvement in our revenue generating ability in accordance with the improvement of Channel 3's viewership shares which are higher every month for the last 6 months. The revenue from "concerts and shows" is much lower from the previous quarter as ThemeStar had reduced its activities during the quarter. Costs and Operating Expenses: Costs of TV business even are still much higher when compares with the same period of last year as expansion of primetime and an increase of local dramas were happened in the second half of last year and an increase of the required space of our new broadcasting center which had started at the beginning of this year, but have been stabilized when compares with prior period except the increase of the depreciation and amortization of the investment which partly started during the quarter. The decreased Costs of other services is in line with the increase of revenue especially those of the shows organized outside of Thailand by ThemeStar the new subsidiary of BEC-TERO. The SG&A are also stabilized when compares with the previous quarter and the same period of last year as the transition is now over. Financial positions: Our assets and liabilities, in general, are about the same as the balance at the end the prior year, except the deduction of cash and cash equivalent as a result of dividend and corporate income tax payments made during the year, but our "fixed assets" and our "right to use property" had increased from our investment for the future benefits.