Ref. WORK 005 / 2005 February 28, 2005 Re : Clarification of the operating result for the year ended December 31,2004. To : President of the Stock Exchange of Thailand Workpoint Entertainment Public Company Limited ("the company) are pleased to submit herewith the consolidated and company financial statements for the year ended December 31,2004. The operating results compared to the year ended December 31,2003 are as follow : The operating performance of the company and its subsidiaries for the year ended December 31,2004 has shown the net profit of 205.64 Million Baht , which increased by 96.95 Million Baht when compared to the 108.69 Million Baht of the year ended December 31,2003 or increased 89.19% that represented the operating potential and profitability ability of the company. The main reasons of such increase are as follow : - Revenue For the year ended December 31,2004 , the company had total revenue for the total amount of 876.27 Million Baht from two main business , which were TV program production for 848.46 Million Baht and Publishing for 20.01 Million Baht . Which was increasing from the year ended December 31,2003 that had total revenue of 634.06 Million Baht because of the ability to created and produced the quality and popularity TV program of the company. During the year 2004, the company had more broadcasting hours for two TV programs, which was "Ching Roi Ching Lan" and "Fan Pan Tae" , and had additional three TV Programs when compared to the same period of the prior year. Due to the additional TV programs , the company had increasing the advertising rate by 8 to 11 percent from the rate of year 2003. - Cost of production The additional in 3 TV programs production also increased cost of production in the year 2004, but the company can controlled production cost by the existing staffs. For the year 2004, the company had cost of production for the total amount 408.97 Million Baht or equal cost of production : total revenue at 46.67% which was lower portion than the same period of last year that had cost of production : total revenue at 53.01% - Selling and Administration Expenses For the year ended 2004, the company had total selling and administration expenses for the total amount of 172.93 Million Baht or equal selling and administration expenses : total revenue at 19.91% which was lower portion than last year that had selling and administration expenses for the total amount of 122.89 Million Baht or equal selling and administration expenses : total revenue at 20.06%. Please be informed accordingly. Best Regards, Workpoint Entertainment Public Company Limited ............................................................ ( Mrs.Banjamas Chanpum) Vice President - Accounting and Finance