SET Announcements

Tor 3/2551 February 29, 2008 Subject: Report on Change in Accounting Policy To: President The Stock Exchange of Thailand Reference is made to Loxley Public Company Limited ("the Company") changed its accounting policy for recording investments in subsidiaries and associated companies in the Company financial statement from equity method to cost method, starting from January 1, 2007. Accordance with the Announcement of the Federation of Accounting Professions No. 26/2549 regarding to the Thai Accounting Standard No. 44 "Consolidated Financial Statements and Accounting for Investments in Subsidiaries"which amend to record the investment in subsidiaries and associated from the equity method to cost method. The Change in accounting policy has been applied retrospectively and the Company's 2006 financial statements, which are included in the Company's 2007 interim financial statements for comparative purposes, have been restated accordingly. This change effected to decrease in the Company's net profit for the years ended December 31, 2007 and 2006 in the amount of Baht 123.41 million (Baht 0.06 per share) and Baht 252.38 million (Baht 0.13 per share), respectively. The cumulative effect of the change in accounting policy has been presented in the Statements of Change in Shareholders' Equity. This changing in accounting policy has affected only the accounts which related to the investments in subsidiaries and associated company in the Company's financial statements, not in the consolidated financial statements. Please be informed accordingly. Sincerely yours, Loxley Public Company Limited (Mr. Pichai mooputtarak) Secretary of Board of Directors