November 13, 2002 The President The Stock Exchange of Thailand Dear sir, Clarification of Operating Results for the Third Quarter of 2002 In the Third Quarter of 2002, the operating profit as reviewed by our Certified Accountant was Baht 10.36 million, a decrease of Baht 6.65 million, or39.11% The smaller net profit for the Third Quarter of 2002 when compared to the previous year's was due to the following : - The apprehension of possible terrorists' acts and war in the Middle East deterred many potential tourists from visiting some holiday destinations in the South - With afore-mentioned uncertainties plus the still gloomy economic environments in many business sectors, a great number of local consumers who still regard soft drinks as semi-luxury products tend to spend their money on necessities and some changed their consumption habit partially from soft drinks. - Profit margin of sale to Modern Trade became less attractive. - At the same time, we pursued our set marketing plans for the current year in order to achieve short and long-term goals and that is to maintain leadership position and to enjoy higher sales volume when most, if not all, the negative impacts were things of the past. In maintaining our planned marketing activities, our expenses registered an increase of 10.36% or Baht 11.13 million for the same period of last year. We are confident we have adopted the right strategy for both short-term and long-term goals. Yours sincerely, Sec.Lt (Phairoch Rattakul) Managing Director Office of the Managing Director Tel. (02) 392-9984-5 Ext.108