ADDITIONAL OPINION GIVEN BY INDEPENDENT FINANCIAL ADVISOR

Ref. TP-MT/029/43(FC026/43) 25 February 2000 Subject: Additional Opinion Given by Independent Financial Advisor Attention: Managing Director, SET Reference: Information Disclosed on Cross-related Transaction Entering with Parent Company Referring to Thantawan Industry Public Co., Ltd. (THIP) had sent SET a letter no. TP- MT/026/43(FC023/43) dated 23 February 2000 on subject of additional notification of rationale in land plots dealing price quotation as details elaborated accordingly. And later SET had requested THIP for notifying further on opinion given by Thai Sakura Finance and Securities Co., Ltd., the Independent Financial Advisor in which previously THIP had reported that "On consideration of suitability and reasonable dealing price of the transaction, the Independent Financial Advisor had also issued the positive support opinion in the case." In this matter THIP is pleased to further report that THIP reported SET according to Thai Sakura Finance and Securities Co., Ltd. quoting in page 14 item 2) On consideration of fair reasonable dealing price which said "By comparative consideration of the transaction dealing price with land plots appraisal prices reported by the 2 Independent Price Appraisers had found that this dealing price was higher than average appraisal prices by 10.56% but was still in the price range appraised by these 2 Independent Price Appraisers. And if compared with average appraisal prices in the past 1997-1998 which was the period that THIP had negotiated with SE in the first time, it was found that this time dealing price quoted was lower than the previous quoted appraisal prices. As for reason of this time appraisal prices were found lower was the impact resulting from economic recession condition coupled with the latest announcement just issued by Land Department concerning the new declining appraisal prices of land plots in general all over the country affecting by the economic recession. Therefore, this transaction dealing price had not been the price causing disadvantage to THIP and shareholders due to this dealing price was lower than the average appraisal prices quoted in 1997-1998 at about 21.73% in which THIP and SE had used as basic criteria for consideration of the transaction dealing price. And the dealing price was also lower than the appraisal prices quoted on January 2000 which reported by Chartered Property Consultant Co., Ltd. In addition these land plots are in adjacent areas of THIP's land plots which conveniently adjoin continuously as one large functional land plot suitable for THIP's ongoing business operation without any interruption after this purchasing transaction had been made." In this matter shareholders can consider by themselves of all details reported in the Information of Cross-related Transaction Entering with Parent Company dated 18 February 2000 in which the information had been forwarded to all shareholders by Thailand Securities Depository Co., Ltd. Please be informed accordingly. Very truly yours, (Mr.Thaveewat Yinatsawaphan) (Mr.Huang Kuan Chiun) Director Director