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

30th  January  2006

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
115.47 million in the financial statements for the 3 months period ended 31
December 2005, being a decrease in net profit of Baht 73.27 million or 38.82%
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 777.98 million, which is lower
by Baht 164.25 million or 17.43% and the Sales revenues out of the same were
lower by Baht 154.78 million or 17.25% over the same period last year.
The decrease in sales revenues is primarily due to decrease in the sales prices
as a result of increased competition as also slightly lower sales volume.

The Company incurred total expenses (cost of sales and selling and
administrative expenses) of Baht 641.32 million being a decrease over the
preceding year by Baht 101.96 million or 13.72%. The decrease in cost of sales
is primarily due to lower raw material prices as also slightly lower sales
volume as compared to the same period last year despite higher cost of sales
due to start up of Pet Film plant in December 2005 of Polyplex Europa Polyester
Film Sanayi Ve Ticaret Anonim Sirketi, subsidiary (PE), subsidiary of
company's 100% subsidiary Polyplex (Singapore) Pte. Ltd. (PSPL).

The selling and administrative expenses were higher by Baht 1.18 million or
3.99% which is mainly due to higher expenses incurred by company's subsidiary
companies (PSPL & PE).

The interest expense for the period is Baht 21.18 million, an increase of Baht
10.96 million or 107.24% over the preceding year. This is due to the new long
term loans borrowed from financial institutions during the period by the company
& subsidiary company (PE).

Please be informed accordingly.

Yours sincerely,



Mr. Manish Gupta
Director