ACC.003/47 24 February,2004 President The Stock Exchange of Thailand 62 Rachadapisek Road, Klongtoey Bangkok 10110 Subject: The Resolutions of the Board of Director s Meeting No.1/2004 The Master Ad PLC Maco or the Company held the board of directors meeting No.1/2004 on Monday 23 February 2004 and passed the following resolutions 1. Set the closing date of the company shares registration book on Wednesday 10 march 2004 at 12:00 hr until the AGM (Annual General Meeting) is duly adjourned for those who reserve the right to attend the meeting. 2. Set the date for the AGM (Annual General Meeting) on Tuesday 30 March 2004 at 14:00 hr. The venue will be informed by 25 February 2004 to consider the following agenda ; Agenda 1 To review and endorse the Minutes of the AGM No.1/2003 Agenda 2 To acknowledge and approve the 2003 Annual Report of the Board of Directors Agenda 3 To review and approve the Company Audited Balance Sheet as of 31 December 2003 and income Statement ended 31 December 2003 Agenda 4 to review and approve the profit allocation for legal reserve and the dividend payment for the fiscal year 2003. Agenda 5 To appoint the Auditor and determine the auditor s remuneration for the year 2004 Agenda 6 To consider and elect the new directors in place of those retired by rotation and to determine the directors' remuneration. Agenda 7 Other matter (if any) 3. Considered the profit allocation for legal reserve and dividend payment For the fiscal year 2003. The Board had a resolution to decline the Dividend payment for the fiscal year 2003 as the Company is currently Developing the investment project in foreign countries for business Expansion of the "Out Of Home Media" in the global market. This Investment would benefit the Company as it would generate more Revenue, more profit as well as reputation in the global market The Investment project will cost 20-30 million Bath in the six month duration. However, according to the dividend policy in the Company Prospectus The Board would like to propose in the AGM (Annual General Meeting ) to Determine whether there is the dividend payment or not with following scenario ; Scenario 1 The dividend payment will be 0.20 bath per share . The total amount is 25 million bath. Scenario 2 Shareholders decline to receive dividends and consent the company to invest the money in foreign countries according to the Board's resolution. Until the details of investment are finalized, the Company will inform The Stock Exchange of Thailand according to the value criteria under the Rule, Procedures and Disclosures of information Concerning the Acquisition and Disposition of Assets of Listed Companies. Please acknowledge the above matter. Yours sincerely, Master Ad PLC. Noppadon Tansalarak President & CEO Tawat Meepresertskul Director