Ref: MCOT/ 6124/1891 August 14,2007 The Stock Exchange of Thailand Attn: President Re: Clarification of the over 20 percent Changes in Operating Results Dear Madam: MCOT Public Company Limited is a media organisation, whose major source of revenue derives from television and radio businesses. According to the Company's operating results for the second quarter ended June 30, 2007, the Company's net profit was Baht 241.944 million, a 39% decrease from Baht 394.333 million of the second quarter of 2006. The clarification of such decline is detailed as follows: 1. Television revenues in 2007 decreased 29% from Baht 732 million in 2006 to Baht 517 million due to the following reasons. 1.1 During the second quarter of 2007, there was no major change in its television programming, except for the non-prime time programming. The Company has revamped its programming in July 2007, consequently, clients' response and advertising revenue were not as good as last year. 1.2 The revenues from government-and-private-sector sponsored projects declined, compared with the same period last year. The Company started earning more revenue from government- sponsored projects since May 2007. 1.3 During the second quarter of 2006, the Company launched many seasonal programmes and such activities as the World Cup, the singing contest "The Star", and the general election, while in 2007, there was no such programmes and activities. 1.4 The impact from the decline in total advertising spending on television in the second quarter of 2007, which fell 9% from last year, resulting in a decrease in Modernine TV's market share. Nevertheless, a 14% rise of television revenues in the second quarter, compared with those of the first quarter of 2007, is considered an improvement. 2. The Company's expenses decreased 2%, compared with the same period last year. The decrease in expenses was not relatively consistent with the declined revenues. Sincerely yours, (Mr. Polchai Vinijchaikul) Acting Vice President, Legal Affairs and the Company's Secretary Office MCOT Public Company Limited Investor Relations Tel. 0 2201 6388 ,0 2201 6454 Fax: 0 2245 1854