SUBMITS THE FIRST QUARTERLY FINANCIAL STATEMENT

Thantawan Industry Plc (THIP)announced reviewed quarterly financial statement as follows: In thousand Ending March 31 Quarter 1 1997 1996 THIP Profit(loss) 154 3,289 EPS(Bt) 0.02 0.41 Comment: Please vertify details of financial statements, auditor's review and remarks in R-SIMS THIP reasoned for the worsen operation as follows: 1. THIP's 16.72% sinking export sector with total earnings of Bt121.69 million was tugged by The 1996 downturn in economy. 2. The cost of goods sold and the expense of sale and administration surged by 2.2 % and 0.96 respectively on account of the announcement of adjustment for the wages floor. Therefore, THIP had the2.15 % increase in the net cost, with total expense increasing by 3.16% and the company's interest payables and income taxes heading 1.01% down. THIP record the Q1/1997 net profit declining to Bt 0.15 million or 0.13% of the total earnings. Comparing with the net earning of 2.25 percent, this profit dipped by 2.12 percent.