-Translation- AIS 0347/2001 May 15, 2001 Subject: Submission of Reviewed Financial Statements for the First Quarter of Year 2001 To: The President The Stock Exchange of Thailand Enclosure: 1. One set of reviewed financial statements for quarter 1/2001- Thai version 2. One set of reviewed financial statements for quarter 1/2001- English version Advanced Info Service Public Company Limited ("the Company") would like to submit the reviewed financial statements for the first quarter ended March 31, 2001 and 2000. In addition, the Company would like to clarify an increase in net profit of Baht 1,194 million or 110%, from Baht 1,090 million in the first quarter of 2000 to Baht 2,284 million in the first quarter of 2001, as follows: 1. The Company's subscribers increased from 1,336,200 at the end of first quarter in year 2000 to 2,430,500 at the end of first quarter in year 2001,resulting in higher revenues from services and equipment rentals by Baht 3,453 million, or a growth of 66%. However, the cost of services and equipment rentals increased by Baht 1,389 million, or 43%. As a result, the ratio of cost of services and equipment rentals to revenues from services and equipment rentals decreased from 62% in the first quarter of 2000 to 53% in the first quarter of 2001. 2. The Company's selling and administrative expenses increased from Baht 726 million in the first quarter of 2000 to Baht 1,185 million in the first quarter of 2001, or an increase of 63%. Such higher expenses were due to increasing marketing expenses. However, in the first quarter of 2001, the ratio of selling and administrative expenses to revenues from services and equipment rentals remained at approximately 14%, relatively the same level as that of the first quarter in year 2000. 3. The Company's share of net profit in subsidiaries-net increased by Baht 156 million, or 42%, from that of the first quarter in year 2000.This was mainly due to an increase in share of net profit from Advanced Wireless Marketing Company Limited, from Baht 355 million in the first quarter of 2000 to Baht 595 million in the first quarter of 2001, or an increase of 68%, which was a result of growing sales of mobile phones from 172,295 units in the first quarter of 2000 to 471,900 units in the first quarte of 2001. Please be informed accordingly. Respectfully Yours, -Signed- Mr. Somprasong Boonyachai Director Advanced Info Service Publicn Company Limited Compliance Unit Tel. 299-5206, 5221