Ref. WORK 013/2007 November 13, 2007 Re: Clarification of the operating result for the Quarter ended September 30, 2007. To: President of the Stock Exchange of Thailand Attachment: Business Performance Report (Form F45-3) and the consolidated and company financial statement for quarter ended September 30, 2007. Workpoint Entertainment Public Company Limited ("The Company") is pleased to submit herewith the consolidated and company financial statements for the quarter ended September 30, 2007. The operating results compared to the quarter ended September 30, 2007 are as follow: The operating performance of the company and its subsidiaries for the quarter ended September 30, 2007 has showed the net profit of 79.67 Million Baht which increased by 14.03 Million Baht when compared to the 65.64 Million Baht of the quarter ended September 30, 2006 or increased by 21.37%. The main reasons of such increase are as follow: Revenue For the total revenues of the quarter ended September 30, 2007 were 355.19 Million Baht that were generated from five main business which were TV business for 290.16 Million Baht, Publishing business 3.20 Million Baht, Animation business 1.72 Million Baht, Movie business 15.14 Million Baht, Concert and Stage Performance 29.63 and other revenues 15.31 Million Baht, increased by 15.49% when compared to the 307.54 Million Baht of the quarter ended September 30, 2006. The main reasons of such increased are as follow: 1) Television Business The revenue was 290.16 Million Baht which was slightly increased by 3.57 Million Baht when compared to the 286.59 Million Baht of the quarter ended September 30, 2006 or increased by 1.25%. The increasing of TV revenue was in line with the TV advertising expenditure growth rate of 1.30% compare to the same period last year. Beside, the company broadcasting time was decreased by 7 hours when compared to 283 hours of the quarter ended September 30, 2006. 2) Publishing Business The publishing business has been operated under Workpoint Publishing Company Limited. The revenue was 3.20 Million Baht which was decreased by 75.57% from 13.10 Million Baht in quarter ended September 30, 2006. The decreasing of revenue mainly was resulted from canceling the magazine which was sold last year. Additionally, the company was delay to introduce the new pocket books to quarter 4/2007 for Thailand Book Fair. 3) Animation Business The animation business has been operated under Ittirit House Company Limited. The revenue was 1.72 Million Baht which was decreased by 73.19% from 6.42 Million Baht in quarter ended September 30, 2006. The decreasing of revenue mainly was resulted from the movie's owner who employed the company is under consideration to change the investment scheme. 4) Movie Business The company has recognized the revenue from the movie: "Teng nong kon ma ha heer" which was 15.14 Million Baht 5) Concert and Stage Performance Business The company has diversified its business into Concert and Stage Performance business under Compordee Company Limited and Tohglom Television Company Limited respectively. The first live concert was "Peng Lang Lim Fang Khong" and the first stage performance project was "Chai Kang". Those two project were very successful and were generated the revenue in total of 29.63 Million Baht. Cost of Production 1. Television Business For the quarter ended September 30, 2007, the company had cost of production for the total amount of 136.82 Million Baht which decreased by 4.13% from 142.72 Million Baht in quarter ended September 30, 2006. The decreasing of TV production cost was the same direction as company's broadcasting time. Additionally, the company had improved the efficiency of production cost control. 2. Publishing Business For the quarter ended September 30, 2007, the company had cost of production for the total amount of 1.16 Million Baht which decreased by 80.69% from 4.87 Million Baht in quarter ended September 30,2006 which were the same direction as revenue. 3. Animation Business For the quarter ended September 30, 2007, the company had cost of production for the total amount of 1.99 Million Baht which increased by 11.52% from 1.78 Million Baht in quarter ended September 30, 2006. 4. Movie Business For the quarter ended September 30, 2007, the company was also realized the cost of production prior to the recognition of the revenues for the total amount of 4.09 Million Baht. 5. Concert and Stage Performance Business For the quarter ended September 30, 2007, the cost of Concert and Stage performance business was 20.60 Million Baht. 6. Selling and Administration Expenses For the quarter ended September 30, 2007, the company had total selling and administration expenses for the total amount of 78.93 Million Baht which increased by 22.49%. The increasing of selling and administration expenses was come from the expansion of our new business, Concert and Stage Performance and was from the Movie business. The selling and administration expenses portion to the total revenue was at 22.22% which was closely in line to the last year portion which was 20.96%. Please be informed accordingly Best Regards, Workpoint Entertainment Public Company Limited (Mr.Kanchit Kawachat) Executive Vice President-Finance