SET Announcements

Ref : CK-05-0000-AFS-L-0064 February 28th, 2005 Subject : Declaration of the Operating Result of the Year Ended December31,2004 Compared with the year Ended December31,2003 Attention : President The Stock Exchange of Thailand The operating result of CH. Karnchang Public Company Limited, Subsidiaries and joint ventures for the year ended December 31, 2004 has the profit decreased 28.35% compared with the previous due to the following factors: 1. In the year 2004, the company had the decreased income from project management since the project management of one joint venture had been decreased resulting from the nearly end of the project. 2. In the year 2004, the company had the increased share of loss from investment accounted for under equity method because of the loss from an associated company which the operating result has not reached the investment value. 3. In the year of 2003, the company recorded the reversal of provision for doubtful debts, interest income on guarantee for share purchase option agreement and gain on sales of share purchase option whereas the company didn't have the above income in the years 2004. For your consideration. Sincerely yours, (Mr.Plew Trivisvavet) (Mrs.Saikasem Trivisvavet) Directors