REASONS FOR OVER 20,HANGE IN COMPANY'S OPERATIONS

(Translation) H.T. 031/2001 Date : May 15, 2001 Re : Reasons for over 20% change in company's operations To : President The Stock Exchange of Thailand As shown in the year Consolidated Financial Statements as of March 31, 2001 the Company has a net profit after tax amounting to Baht 61.7 million representing an increase of 66.3% over the Net Profit after Tax of Baht 37.1 million achieved for the same period of the prior year. The major reason for such an improvement is the company's interest expenses decreased from the same priod of the prior year with the amount of 24.6 million Baht as the main result of a decrease interest rate of borrowing from 9-10% per annum to 7-8% per annum together with a decrease of borrowing amount from the same priod of the prior year by 866 million Baht. Yours sincerely,