SET Announcements

March 4th ,1999 To The President The Stock Exchange of Thailand Re Submission of financial statements for the year 1998 in English and explanation on the difference of the results from the previous year over 20 percent. Enclosures Financial statements for the year 1998 in English. Further to our filing of the financial statement of the Company and the consolidated financial statement of the Company and its subsidiary companies for the year ended 31st December,1998 earlier this month,we are sending you herewith enclosed the same finacial statements in English. The operating result of the Company and its subsidiary companies for the year 1998 is a net profit of Baht 1,307 million. It is lower than that of the previous year by more than 20 percent. This is because of the big drop, from the previous year, of our sale revenue especially our advertising air-time sale which is a result of the much lower advertising spending of the business as a whole according to the changes of the economic conditions. Therefore as a result of the drop of revenue, our operating profit was lower down. Furthermore, the Company also has to recognize as an additioanal loss of over 54 million Baht, 49 million higher than previous year, as our share in the loss of CVD, our associated company, mainly because of its need to increase its provision for doubtful receivable accounts. Please be informed accordingly. Sincerely Yours, (Chatchai Thiamtong) Vice President - Finance