SET Announcements

- 3 - In Baht Consolidated The Company 1998 1997 1998 1997 CASH FLOWS FROM INVESTING ACTIVITIES: Increase in investments of subsidiaries, associated and other related companies ( 14,438,421) ( 886,744,352) ( 166,562,900) (1,245,820,326) Decrease (increase) in loan to related companies 71,960,976 ( 198,848,689) ( 2,697,907) ( 186,199,055) Increase (decrease) in minority interest in net income of subsidiaries 14,587,349 ( 22,152,769) - - Excess of investments over net assets ( 2,599,731) ( 86,518,575) - - Increase in fixed assets ( 211,910,253) ( 325,135,432) ( 48,904,540) ( 137,478,394) Cash dividends from associated companies 227,510,166 100,013,200 227,510,166 100,013,200 Proceeds from sales of investments 151,796,500 1,130,156,292 284,596,500 1,185,656,292 Proceeds from sales of fixed assets 31,558,482 14,743,998 7,864,413 16,742,733 Net Cash Provided by (Used in) Investing Activities 268,465,068 ( 274,486,327) 301,805,732 ( 267,085,550) CASH FLOWS FROM FINANCING ACTIVITIES: (Decrease) increase in loans from financial institutions ( 651,790,122) 706,514,573 ( 230,143,590) 596,738,709 Increase in loan from director 11,394,340 - - - Decrease in long-term loans ( 44,879,382) ( 22,589,960) - - (Decrease) increase in loan from related companies ( 82,707,191) 136,459,316 - - Cash dividends - ( 120,000,000) - ( 120,000,000) Net Cash Provided by (Used in) Financing Activities ( 767,982,355) 700,383,929 ( 230,143,590) 476,738,709 NET INCREASE (DECREASE) IN CASH 682,632,444 ( 529,805,001) 511,932,234 ( 271,792,171) CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 980,263,140 1,510,068,141 1,003,235,107 1,275,027,278 CASH AND CASH EQUIVALENTS AT END OF YEAR 1,662,895,584 980,263,140 1,515,167,341 1,003,235,107 - 4 - In Baht Consolidated The Company 1998 1997 1998 1997 Supplemental Disclosures of Cash Flows Information: Cash and cash equivalents consisted of: Cash on hand and at banks (excluded collateralized fixed deposits) 444,101,088 307,900,241 159,227,323 93,200,877 Short-term investments 1,512,306,683 1,026,733,355 1,366,887,264 914,849,513 Bank overdrafts ( 293,512,187) ( 354,370,456) ( 10,947,246) ( 4,815,283) 1,662,895,584 980,263,140 1,515,167,341 1,003,235,107 Cash paid during the years for: Interest 623,592,909 424,887,419 408,323,847 230,230,087 Income tax 62,875,614 202,475,696 22,404,030 113,645,997 See accompanying Notes to Financial Statements. (With Mr. Vichien Thamtrakul's report dated February 22, 1999)