Clarification Of Change Operation Results In Excess Of 20%

28th  July, 2005

Subject: Clarification of change in the operating results in excess of 20% in
financial statement

To: Managing Director
      The Stock Exchange of Thailand
 
The company's consolidated operating results showed a net profit of Baht 192.96
million in the financial statements for the 3 months period ended 30 June 2005,
being an increase in net profit of Baht 32.52 million or 20.27% compared to the
same period of the preceding year, or in excess of 20%.

The company will accordingly like to clarify the reasons for this change as
follows:

The company recorded total revenues of Baht 789.26 million, which is almost
equal to the preceding year total revenue. The total sale was lower by Baht
42.57 million or 5.36% over the same period last year. The other constituents
in total revenue were the other income and the exchange rate gain or loss.
During the period under review company recorded gain of Baht 12.59 million on
exchange rate which is 166% higher than exchange rate loss of Baht 19.06 million
in the corresponding period last year. Also there was a rise in other income
of Baht 10.93 million or 75.89% over the corresponding period last year.

The Company incurred total expenses (cost of sales and selling and
administrative expenses) of Baht 595.84 million being an decrease over the
preceding year by Baht 25.29 million or 4.07%.  The decrease in cost of sales
is primarily due to lower raw material prices as also benefit of captive
production of PET resin in this quarter as compare to market purchase in the
same period last year.

The administrative expenses were higher by Baht 30.51 million or 56.40% which
is mainly due to expenses incurred by Polyplex Europa Polyester Film Sanayi Ve
Ticaret Anonim Sirketi, subsidiary (PE), subsidiary of Polyplex (Singapore) Pte.
Ltd. (PSPL) of which PTL hold a stake of 100% in PSPL incorporated on 20
September 2004 which is under construction.

The interest expense for the period is Baht 0.5 million, an decrease of Baht
7.23 million or 94.12% over the preceding year. This is due to the repayment
of term loans borrowed from financial institutions out of IPO proceeds.



Please be informed accordingly.

Yours sincerely,


Mr. Manish Gupta
Director