Dividend Policy

TRANSLATION

No. F/50 -

15 May 2007

Subject : Dividend Policy

Attention : Managing Director Stock Exchange of Thailand

In accordance with the Company has changed its accounting policy for recording investments in subsidiary and associated companies in the separate financial statements from the equity method to the cost method, in compliance with the Accounting Standard No. 44, since the first quarter of 2007, and such change has caused the difference of the net income between the consolidated and the separate financial statements.

Please be informed that such change will not affect the dividend payment policy of the Company in the future at all since the Company still maintain the dividend payment from the net income according to the consolidated financial performance, i.e.

The Company will pay the dividend at the rate of no less than 60% of net profit for the year if it has sufficient profit to do so except for the Board of Directors or the Shareholders has any certain reason or necessity not to pay or pay less than the specified rate. In addition, the Board of Directors may timely approve to pay the interim dividend when it considers appropriate.

 

Faithfully yours,

(Mr.Apichai Taechaubol)
Managing Director