OPERATING RESULTS

Ref. TP-MT/105/45 (FC083/45) August 13th, 2002 Subject: Filing of Verified Financial Statements for the 2nd Quarter of 2002 and 2001 and Report on Comparative Operating Performance Between the 2nd Quarter Attention: Director and Manager SET Enclosure : Verified Financial Statements and the Report of C.P.A. for the 2nd Quarter of 2001 - 2002, 2 copies (one in Thai, and another one in English) Referring to SET's regulation on Criteria, Conditions and Methods of Preparation and Filing the Financial Statements and Reporting on Financial Status and Business Performance of Listed Companies dated 19 May 1993 which required the company to clarify causes resulting in changes of business performance more than 20% from the same period of previous year. Thantawan Industry Public Co.,Ltd. (THIP) would like to clarify the major causes for significant changes of business performances in the 2nd Quarter of 2002 as compared with the same Quarter in 2001 as followings: The total revenues of THIP in 2nd quarter was Baht 178.74 million, which had decreased Baht 7.27 million or 3.91% from the same period in 2001, due to the decline in Export Income which had decreased from Baht 169 million in the 2nd Quarter of 2001 to Baht 155.37 million of the same period in 2002, amounting Baht 13.63 million, or at 8.07%. And because of stronger value of U.S Dollar to Thai Baht had made exchange rate strengthened to Baht 42.54 to the Dollar in 2002 from Baht 45.44 to the Dollar in 2001. By these reasons had resulted to the net profit in 2002 had decreased Baht 3.33 million, or decreasing 30.03%. Please be informed accordingly. Very truly yours, (Mr. Phietoon Trivijitkasem) (Mrs.Pojanard Phanaskhao) Director Director