SET Announcements

IFA's opinion 5. Conclusion From the consideration of information and reasons stated above, Advisor found that the investment in ethanol business with the production capacity of 650,000 liters per day and the investment vudget of about THB 5,950 million is feasible with adequate working capital, and shareholders should vote to support the transaction. In consideration of the rationales of the transaction, Advisor found that to operate a major business as planned by management, the Company will need to invest in a business that could generate long term revenue for the Company and returns for shareholders' equity. Ethanol is also considered a promising alternative energy in the environment of skyrocketing gasoline prices and limited gasoline supply. Consequently, ethanol business would generate revenue and profit to the Company and reduce a risk from delisting from the stock exchange. However, it is recommended that the shareholders study the information in the IFA report before considering the matter, Note that the entering into the transaction depends upon the shareholder's decisions, Capital Plus Advisory Company Limited hereby warrants that this report is prudently and professionally evaluated for the benefits of the Company's shareholders. ______________________________________________________________________