Policy

Ref. No.: A/C ST. 0130 / 2008 February 19, 2008 Subject : The Company changed its accounting policy for recording investments. To : President of the Stock Exchange of Thailand Dear Sirs, During the current year, the Company changed its accounting policy for recording investments in subsidiaries, jointly controlled entities and associates in the separate financial statements from the equity method to the cost method, in compliance with Accounting Standard No. 44 (Revised 2007) regarding "Consolidated Financial Statements and Separate Financial Statements", under which investments in subsidiaries, jointly controlled entities and associates are to be presented in the separate financial statements under the cost method. In this regard, the Company has restated the previous period's separate financial statements as though the investments in the subsidiaries, jointly controlled entities and associates had originally been recorded using the cost method. The change has the effect of increasing net income in the separate income statements for the year ended 31 December as following: Separate financial statement Increase (decrease) 2007 2006 Net income (Million Baht) 2 2 Basic earnings per share (Baht per share) - - Diluted earnings per share (Baht per share) - - The cumulative effect of the change in accounting policy has been presented under the heading of "Cumulative effect of the change in accounting policy for investments in subsidiaries, jointly controlled entities and associates" in the separate statements of changes in shareholders' equity. Such change in accounting policy affects only the accounts related to investments in subsidiaries, jointly controlled entities and associates in the Company's separate financial statements, with no effect to the consolidated financial statements. Please kindly be informed. Yours sincerely, ___________________________ (Mr. Woraphant Chontong) Director