ACC.069/46 November 21,2003 Subject : The establishment of a new company Attn : Directors and Manager of the Stock Exchange of Thailand Master AD Public Company Limited (MACO) would like to announce that the company set to invest in setting up the new company called MACO Rite Sign Co.,Ltd.with the portions of 500,000 shares @ 10 Baht per share, amounting to 5,000,000 Baht. MACO Rite Sign Co.,Ltd. is fully paid up dated on the 25 November 2003. To invest on setting up the new company will make the MACO Rite Sign Co.,Ltd. become a subsidiary company of the Master AD PLC. 1.The date on which the transaction occurred 25 November 2003 2.Shareholders Structure Name Number of shares (%) 1) Master Ad PLC. 400,000 80 2) Rite Sign ONM Sweden AB 100,000 20 For these 2 companies there are no sharing directors and no part in holding the share between MACO and Rite Sign ONM Sweden AB 3. The general characteristics of the transaction - Category Type : Common Share (New Set up Company) - Size of the category : 0.8 - Target set for consideration of the category : The total value of consideration paid or received compared with the value of assets 4. The details of the assets involved 4.1 Securities - The company name lssuer : Maco Rite Sign Co.,Ltd. - The nature of business : Types of business is the which manufacture the trivision for Master AD PLC. and Rite Sign ONM Sweden AB for use and sale by Master AD PLC. for distribution all over Asia,Australia and New Zealand. Rite Sign ONM Sweden AB will cover the USA, Europe and Middle East market. - Registered capital : 5,000,000 Baht - Paid-up capital : 5,000,000 Baht - Number of securities acquired : 400,000 Shares - Price per share : 10 Baht (par value) - Proportion of securities holding before : 0 - Proportion of securities holding after : 80 % - Board of directors 1) Mr.Noppadon Tansalarak (Director) 2) Mr.Phiched Maneerattanaporn (Director) 3) Mr.Erik Lennart Zettergren (Director) - Nature share holders Name ( % ) 1) Master Ad PLC. 80 2) Rite Sign ONM Sweden AB 20 5. The tolal value of the consideration : 4,000,000 Baht The type of payment : Cash 6. The value of the assets acquired : 4,000,000 Baht 7. Value judgments for the return : Buy at par value 8. The benefit expected to be received 8.1 Decreasing cost by 50 % of imported motor for operating Trivision 8.2 Increasing in profit from exporting of the Trivision to Asia, Australia and New Zealand. 9. The sources of funds : From operating cash flow 10. Reasons for Investment : 10.1 To increase the profit for the company 10.2 To increase the space for advertising 10.3 To increase the market share 10.4 To develop oversea market in using the Trivision 11. Calculation base on the rule of consideration paid or received compared with the value of assets of the listed company or the listed company and its subsidiaries, the value is 0.8 which is not under the rule of acquisition and disposition of assets and the category related. 12. Comment of the Audit committee : The Audit committee has concluded that this investment uses less capital whilst getting good benefit in return when compared with the investment. Sincerely yours, (Noppadon Tansalarak) President & CEO (Phiched Maneerattanaporn) Director