SET Announcements

Ref : EE/SET/007/2010 February 26, 2010 Subject : Clarification the operating result for the year ended December 31,2009 changing more than 20% from previous year To The President The Stock Exchange of Thailand Eternal Energy Public Company Limited, formerly Sea Horse Public Company Limited and its subsidiaries financial statements for the year ended December 31, 2009 compare to the same period last year showed net loss of 223.582 MB or increased by 91.037 MB which were more than 20%. The reasons are mainly from the allowance for accounts receivable loss in seafood business and the increase of allowance for land devaluation of our subsidiary. 1. Revenue Total revenues of 722.54 MB decreased by 385.878 MB or 34.81% due to sale revenues of 542.534 MB decreased by 385.878 MB or 48.51 %,resulted from our asset sales of food business 2. Expense Cost of sales and services of 554.96 MB decreased by 384.345 MB or 40.92 % from 2008, the proportion of decreasing in cost were less than the decrease in sales revenue.Administrative expenses of 264.959 MB increased by 108.077 MB or 68.89%, resulted from the allowance for accounts receivable loss in seafood business of 104.772 MB and the increase of allowance for land devaluation of our subsidiary by 46.886 MB. Please be informed accordingly. Sincerely yours, (Mr. Vorajate Indamra) Director