News

Change In Application In Funds From Capital Increase

9th  August, 2005

Subject: Clarification of change in Application in Funds from Capital Increase

To: Managing Director
    The Stock Exchange of Thailand
 
Please refer to our letter dated 26 July, 2005 regarding the actual application
of funds raised from capital increase upto June 30, 2005.

We would like to clarify that as we have used funds of 400 Million Baht for
Working capital (within the budgeted range of 300-400 Million Baht) and Baht
1,051.81 Million for Repayment of Loans (within the budgeted range of 985.46-
1,085.46 Million Baht), the revised application of funds from capital increase
of Baht 1610.46 Million would be as under:

1) Procurement of machinery for Metallized film project Baht  100.00 Million
2) Procurement of Slitting machine & other equipments   Baht   58.65 Million
3) Working Capital                                       Baht  400.00 Million
4) Loan Repayment                                        Baht 1051.81 Million
       TOTAL                                             Baht 1610.46 Million

The approval / ratification for the above change in Application of Funds will
be taken in the next meeting of the Board of Directors and at the next Annual
General Meeting.

Please be informed accordingly.

Yours sincerely,


Mr. Manish Gupta
Director