15th May, 2006. The President The Stock Exchange of Thailand Dear Sir, Clarification on Operating Result for the First Quarter of 2006 The Company's operating results for the first quarter of 2006, which has been certified by external auditors, showed a net profit of THB 21.45 m, an increase of THB 3.89 m or 22.16% from the same period last year. The improvement in net profit was due to the following reasons: 1. Net sales revenue increased rather significantly by THB 91.61 m or 19.59%. This was mainly due to a pickup in tourism after the Tsunami catastrophe in December 2004 and improved sales execution. 2. As a result of management's effort to reduce cost, selling, general and administrative expenses (SG&A) were reduced by THB 2.37 m or 1.49%. Cost containment has so far been satisfactory given that other cost items have risen significantly during the past 12 months. As an example, transportation cost alone had increased by 50% from the same period last year due to higher oil price. The above are the main reasons for the improvement in the Company's net profit in the first quarter of this year. Yours faithfully, For Haad Thip Public Company Limited Sec. Lt. (Phairoch Rattakul) President & CEO Office of the Managing Director Tel.0-2391-4488 Ext.108