Re : Submission of Financial Statement for the year ended 1997 Enclosure : 1. Audited financial statements for the year ended of 1996 and 1997 ended December 31, 1997 and 1996 2. Summary of financial status and operation Advanced Info Service Plc. would like to submit its audited financial statement as at December 31, 1997 and 1996 along with the summary of financial status and operation. Additionally, the decrease of net profit from the same period of 1996 by more than 20% was due to the fact that the company had recorded the total loss from Foreign Exchange totaling Baht 1,240 Million netting of the corporate tax totaling Baht 526 million. However,if the company did not included total loss from the said Foreign Exchange, the net profit will be increased totaling Baht 225 Million from 1996. Summary of Financial Statement Advanced Info Service Plc. and Subsidiary Balance Sheets As at December 31, 1997 and 1996 (Amounts in Thousand Baht) Consolidated Companys Separate 1997 1996 1997 1996 Total Current Assets 9,158,863 4,950,585 8,404,597 4,087,623 Total Assets 35,328,478 21,776,013 33,976,104 20,380,159 Total Current Liabilities 12,518,123 6,294,334 11,554,291 5,983,516 Total Shareholders Equity 11,666,364 10,547,286 11,666,364 10,547,286 Statement of Income Ended December 30, 1997 and 1996 (Amounts in Thousand Baht) Consolidated Companys Separate 1997 1996 1997 1996 Revenues from services and equipment rental 14,908,003 12,720,893 - - Service income - - 13,433,720 11,375,205 Sales 258,027 - - - Net result of investments in subsidiary and associated companies - - 87,834 50,141 Other income 409,047 594,511 338,994 482,418 Cost of services and equipment rental 5,945,145 4,873,387 - - Cost of services - - 5,671,295 4,565,877 Cost of sales 238,334 - - - Selling and administrative expenses 3,097,121 2,823,566 2,264,966 1,951,526 Interest expense 572,165 253,079 501,579 197,855 Directors remuneration 2,480 2,020 2,020 1,960 Other expenses 76,186 77,649 5,213 41,352 Income tax (1,797,825) (1,664,593) (1,665,875) (1,585,910) Net income before adjustment of net effect derived from the change in exchange rate system 3,845,821 3,621,110 3,749,599 3,563,284 Adjustment of net effect derived from the change in exchange rate system (1,239,788) - (1,226,520) - Less share of net income of subsidiary to minority interests 82,955 57,826 - - Net income 2,523,078 3,563,284 2,523,078 3,563,284 Earnings per share (Baht) 10.78 15.23 10.78 15.23