ACC.002/2005 24 February 2006 President The Stock Exchange of Thailand 62 Rachadapisek Klongtoey Bangkok 10110 Subject: Clarification of Operating Performances of Master Ad Plc. Master Ad Plc. would like to clarify the consolidated financial statements of the company and its subsidiaries for the year 2005 ended December 31 2005, showing the net profit of 66.99 Million Baht which is lower than the net profit of 84.55 Million Baht for the corresponding period in 2004. The reason of the decrease of net profit in the said period of 2004 due to the cost of railway billboard project. Please be kindly informed accordingly. Yours sincerely, Master Ad.Plc Noppadon Tansalarak Director Phiched Maneerattanaporn Director