Operating result IRS. 002/2012 February 22, 2012 To: Secretary - General The Office of Securities and Exchange Commission, Thailand Subject: Clarification of Operating result for Y2011 Master Ad Plc. is the Out of Home Media providing OHM Solutions to the market. Its financial performances for Y2011 were as follows; With Separate Financial Statement, sales revenue was 460.51 MB, increasing by 113.14 MB or approximately equivalent to 32.57% more than compared to that of Y2010. Net income of Y2011 was 78.55 MB, increasing by 42.91 MB or 120.40% upper when compares to net income of Y2010. For Consolidated Financial Statement of Y2011, sales revenue was 635.53 MB, increasing by 136.64 MB or approximately equivalent to 27.39 % more than compared to that of Y2010. Net income of Y2011 was 97.99 MB, increasing by 33.29 MB or 51.44% upper when compares to net income of Y2010 Overview in the Y2011 results of separate financial statements and consolidated financial statements revenue increase from the 2010. By main of category Billboard grow 25% of category Street Furniture has grown 12 %, and the category made to order to grow 71% as a result of the sales strategy in a way more aggressive and including the use of marketing tools for push to customer to use more advertising from continuously. By we can respond to customers on all forms. Net profit for the overall increase in earnings compared with the Y2010,result of First of all parts of the revenue from sales and services increased. Secondly, due to lower depreciation of assets used in business and asset of use in management to 41%. The thirdly, the recognition of profits in respect of shares in subsidiaries increased by 32.50 % at the end of Q3/2010 and overall in 2011 with profits from the acquisition of shares in subsidiaries were 32.50 % recognition of the fourth quarter. Please be kindly informed accordingly. Yours sincerely, Noppadon Tansalarak Director Phiched Maneerattanaporn Director ______________________________________________________________________ This announcement was prepared and disseminated by listed company or issuer through the electronic system which is provided for the purpose of dissemination of the information and related documents of listed company or issuer to the Stock Exchange of Thailand only. The Stock Exchange of Thailand has no responsibility for the correctness and completeness of any statements, figures, reports or opinions contained in this announcement, and has no liability for any losses and damages in any cases. In case you have any inquiries or clarification regarding this announcement, please directly contact listed company or issuer who made this announcement.