15 November 1999 The President The Stock Exchange of Thailand 62 Ratchadapisek Road Klong Toey, Bangkok 10110 Dear Sirs, Clarification of Operating Results for the Third Quarters of 1999 Herewith, we send you our interim comparative financial statements covering the Third Quarters of 1998 and 1999 as per the requirements of Rules and Regulations of SET. And we now wish to offer our explanation on the 20% improvement of trading results of the 3rd Quarter over the same of last year. 1. Major cost saving program was launched earlier this year. As a result, considerable reduction in selling and administrative costs have been made. The program involves energy saving on work stoppage on Saturday, a voluntary salary reduction program across the company, suspension of payment of bonuses until further notice and some changes in selling practices. 2. There were no heavy floodings this 3rd Quarter in the normally inundated areas due to earlier heavy rainfall in the First and Second Quarters. Yours faithfully, For Haad Thip Plc. (Ms.Osarit Amartayakul) (Mrs.Pariya Chirabandhu) Director Director Office of the Managing Director Tel. 392-9984-5 Ext.108