14th November, 2005. The President The Stock Exchange of Thailand Dear Sir, Clarification on Operating Result for the Third Quarter of 2005 The Company's operating results for the third quarter of 2005, which has been certified by external auditors, showed a net loss of THB 17.5 m, a decrease of THB 20.3 m from the same period of last year. The reduction in net profit was due to the following reasons; 1. As part of the ongoing restructuring, the Company had initiated the Voluntary Retirement Program which had resulted in an additional expense of THB 18.2 m. 2. The increase in the price of fuel and bunker oil had adversely affected the costs of raw materials such as plastic resins and pre-forms. This also had a direct impact on our production and transportation costs. 3. Price competition in the carbonated soft-drinks market, especially through modern trade channels, continues to erode operating margins. Key PET products sold to the channels, most notably the 1.25 litre and 2 litre, had experienced a significant cost increases. If the Company does not participate in these heavy discounts, there will be massive transshipment of the products from other areas in the north outside our franchise territory. 4. Selling and administrative expenses for the quarter had also increased substantially from the same period in 2004. This was partly due to marketing and sales promotions expenses incurred to maintain our sales volume and market share which is over the years higher than competitors in all flavours. 5. Other income was reduced by THB 7.9 m since the Company had not sold less non-operating assets during the third quarter of 2005. The above are the main reasons for the decline in the Company's net profit in the third quarter of this year. Yours faithfully, For Haad Thip Public Company Limited (Ms. Smornluk Mahasmiti) (Ms. Lilly Manabhongse) Director Director Office of the Managing Director Tel.0-2391-4488 Ext.108