Notification of Operating Result for Q1/2010

THIP-SET/023(1)/2010 May 13th, 2010 Subject :Filing of Reviewed Financial Statements for the 1st Quarter of 2010 and 2009 Attention :The President The Stock Exchange of Thailand. Enclosures :Reviewed Financial Statements and the Auditor's Review Report for the 1st Quarter of 2010 and 2009 The Board of Directors Meeting No. 3/2010 of Thantawan Industry Public Company Limited which was held on May 13, 2010 had approved the Reviewed Financial Statements for three-month period ended March 31, 2010. The Company's net profit was reported at Baht 5.47 million decreased by Baht 8.30 million or 60.28% from the same period last year which was recognized net profit of Baht 13.77 million. As the difference was more than 20%, the Company, therefore, would like to clarify as below - 1. Sales revenue was increased by Baht 49.58 million or 24.30% resulting from both domestic and international market 2. Increase in Cost of Sales Baht 51.32 million or 33.22%, Cost of sales was increased in a higher ratio as compared to sales due to 2.1) Resin cost, a major material, has been rising up approximately 20% from last year while selling price was almost the same due to market competition. 2.2) The company, last year, recognized decrease of allowance for devalue of inventory of Baht 7.67 million and taken this amount decreased cost of sales 3. Increase in Administrative expenses of Baht 7.45 million from 3.1) Employees expenses was risen Baht 4.62 million 3.2) Retroactive paid for the materials imported previously amounting to Baht 1.13 million 3.3) Allowance for doubtful account for this period of Baht 0.38 million 3.4) Increase in Bank charge and consulting fee of Baht 0.66 million 3.5) Increase in depreciation and amortization of Baht 0.17 million Please be informed accordingly. Very truly yours, (Mrs.Pojanard Prinyapatpakorn) (Mr.Huang Kuan-Chiun) Authorized Director