similar words. The statements are based on our management's assumptions and beliefs in light of the information currently available to us. These assumptions involve risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. FINANCIAL SUMMARY P&L summary 1H08 1H09 y-o-y Service revenue 50,886 47,820 -6.0% Sales revenue 6,107 3,677 -39.8% Total revenue 56,993 51,497 -9.6% Cost of service (20,991) (20,086) -4.3% Revenue sharing (10,208) (9,831) -3.7% Cost of Sales (5,607) (3,588) -36.0% Gross Profit 20,188 17,993 -10.9% SG&A (5,110) (4,802) -6.0% EBITDA 24,325 22,941 -5.7% EBT 16,259 12,537 -22.9% Net Income 11,456 8,764 -23.5% P&L summary 2Q08 1Q09 2Q09 y-o-y q-o-q Service revenue 25,204 24,267 23,553 -6.5% -2.9% Sales revenue 3,141 2,033 1,644 -47.7% -19.1% Total revenue 28,345 26,300 25,197 -11.1% -4.2% Cost of service (10,491) (10,065) (10,020) -4.5% -0.4% Revenue sharing (5,051) (4,982) (4,849) -4.0% -2.7% Cost of Sales (2,865) (1,988) (1,599) -44.2% -19.6% Gross Profit 9,939 9,264 8,729 -12.2% -5.8% SG&A (2,574) (2,415) (2,387) -7.3% -1.2% EBITDA 12,048 11,652 11,289 -6.3% -3.1% EBT 8,915 6,529 6,007 -32.6% -8.0% Net Income 6,333 4,567 4,197 -33.7% -8.1% Breakdown - Service revenue 2Q08 1Q09 2Q09 Postpaid - voice 18.3% 17.9% 18.3% Prepaid - voice 59.1% 57.2% 58.2% Postpaid - data 4.9% 6.8% 6.7% Prepaid - data 7.7% 8.6% 9.1% International roaming 4.5% 4.0% 2.7% Others (IDD, other fees) 5.5% 5.5% 5.0% Sales revenue Handset 95.8% 94.0% 92.3% SIM 4.2% 6.0% 7.7% Breakdown - Cost of service Amortisation 69.0% 69.4% 70.5% Base station 9.8% 9.8% 10.1% Maintenance 6.7% 6.5% 5.2% Others 14.5% 14.3% 14.2% Cost of sales Handset 97.2% 96.6% 96.0% SIM 2.8% 3.4% 4.0% Balance Sheet summary 2Q08 1Q09 2Q09 Current Assets 24,162 38,968 36,162 Fixed Assets 83,338 79,318 76,899 Total Assets 128,952 137,644 131,698 Total Liabilities 51,593 59,596 59,203 Retained Earnings 51,685 52,322 46,745 Total Equities 77,359 78,048 72,495 Key Ratios 2Q08 1Q09 2Q09 EBITDA 12,048 11,652 11,289 EBITDA Margin 42.5% 44.3% 44.8% Interest Coverage (x) 18.7 14.0 13.3 DSCR (x) 6.0 5.6 5.4 Net Debt / EBITDA (x) 0.36 0.19 0.26 Net debt to Equity (x) 0.23 0.12 0.16 Total Liabilities to Equity (x) 0.67 0.76 0.82 Free cash flow to EV (%) 9.6% 11.0% 10.7% ROE (%) 32% 23% 23% OPERATIONAL DATA Subscribers 2Q08 1Q09 2Q09 GSM Advance 2,260,300 2,586,300 2,672,200 GSM 1800 79,700 76,900 78,300 Postpaid 2,340,000 2,663,200 2,750,500 Prepaid 23,624,700 24,918,600 25,151,500 Total subscribers 25,964,700 27,581,800 27,902,000 Net additions Postpaid 15,500 51,200 87,300 Prepaid 861,900 220,400 232,900 Total net additions 877,400 271,600 320,200 Churn rate (%) Postpaid 1.9% 2.0% 2.0% Prepaid 4.5% 4.8% 4.9% Blended 4.3% 4.6% 4.7% Subscriber market share Postpaid 41% 41% n/a Prepaid 46% 44% n/a Total 45% 44% n/a ARPU excl. IC (Bt) GSM Advance 743 678 645 GSM 1800 713 636 631 Postpaid 742 677 645 Prepaid 218 195 188 Blended 266 241 232 ARPU incl. net IC (Bt) GSM Advance 688 634 605 GSM 1800 692 620 615 Postpaid 688 634 605 Prepaid (One-2-Call!) 224 203 196 Blended 267 244 236 MOU (minutes: billable outgoing on GSM Advance 574 533 529 GSM 1800 472 480 470 Postpaid 570 531 527 Prepaid 266 243 239 Blended 294 271 267 Traffic % outgoing to total minute 49% 48% 48% % on-net to total outgoing minute 73% 77% 78%