Ref. WORK 03/2010 February 25, 2010 Re: Clarification of the operating result for the year ended December 31, 2009. To: President of the Stock Exchange of Thailand Attachment: Business Performance Report (Form F45-3) and the consolidated and company financial statement for the year ended December 31, 2009. Workpoint Entertainment Public Company Limited ("The Company") is pleased to submit herewith the consolidated and company financial statements for the year ended December 31, 2009. The operating results compared to the year ended December 31, 2008 are as follow: The operating performance of the company and its subsidiaries for the year ended December 31, 2009 has shown the net profit of 73.13 Million Baht compared to the 162.06 Million Baht of the year ended December 31, 2008 or decreased by 54.87%. Details are as follow: Revenue For the total revenues of the year ended December 31, 2009 were 1,040.32 Million Baht that were generated from six main business which were TV business for 864.98 Million Baht, Publishing business 17.66 Million Baht, Animation business 7.81 Million Baht, Movie business 18.15 Million Baht, Concerts & Plays business 34.28 Million Baht, Event Marketing business 61.25 Million Baht, and Other revenues 36.20 Million Baht. The total revenues decreased by 15.74% compared to the 1,234.64 Million Baht of the year ended December 31, 2008. Details are as follow: 1) Television Business The revenue was 864.98 Million Baht which was decreased 238.87 Million Baht compared to 1,103.85 Million Baht of the year ended December 31, 2008 or decreased by 21.64%. The main reason was the decreasing of total broadcasting time from 987 hours in year ended December 31, 2008 to 670 hours in year ended December 31, 2009. 2) Publishing Business The publishing business had the revenue of 17.66 Million Baht which was decreased 8.12 Million Baht compared to 25.78 Million Baht of the year ended December 31, 2008. The decreasing of revenue mainly was resulted from economic slowdown (Publishing advertising expenditure industry decreased by 12.90%) 3) Animation Business The animation business had the revenue of 7.81 Million Baht which was decreased 12.74 Million Baht compared to 20.55 Million Baht of the year ended December 31, 2008. 4) Movie Business The movie business had the revenue of 18.15 Million Baht which was decreased 7.92 Million Baht compared to 26.07 Million Baht of the year ended December 31, 2008. 5) Concerts & Plays Business The Concerts & Plays business had the revenue of 34.28 Million Baht which was increased by 120.31% from 15.56 Million Baht in the year ended December 31, 2008.The revenue had recognized from Mom on Stage, Oh My God Concert and The Legend of Rekhaifun. These projects were very successful. 6) Event Marketing Business The revenue was 61.25 Million Baht which was increased by 266.77% from 16.70 Million Baht in year ended December 31, 2008. Cost of Production 1) Television Business For the year ended December 31, 2009, the company had cost of production for the total amount of 520.67 Million Baht which was decreased 81.79 Million Baht from 602.46 Million Baht in year ended December 31, 2008. 2) Publishing Business For the year ended December 31, 2009, the company had cost of production for the total amount of 8.77 Million Baht which was decreased 3.28 Million Baht from 12.06 Million Baht in year ended December 31, 2008 which were the same direction as revenue. 3) Animation Business For the year ended December 31, 2009, the company had cost of production for the total amount of 13.34 Million Baht which was decreased 3.40 Million Baht from 16.73 Million Baht in year ended December 31, 2008. 4) Movie Business For the year ended December 31, 2009, the company had cost of production for the total amount of 14.36 Million Baht which was decreased 0.50 Million Baht from 14.86 Million Baht in year ended December 31, 2008. 5) Concerts & Plays Business For the year ended December 31, 2009, the company had cost of production for the total amount of 29.89 Million Baht which was increased 16.55 Million Baht from 13.34 Million Baht in year ended December 31, 2008. 6) Event Marketing Business For the year ended December 31, 2009, the company had cost of production for the total amount of 51.62 Million Baht which was increased 36.31 Million Baht from 15.31 Million Baht in year ended December 31, 2008 which were the same direction as revenue. Selling and Administration Expenses For the year ended December 31, 2009, the company had total selling and administration expenses for the total amount of 287.24 Million Baht which decreased by 10.30% from 320.24 Million Baht in year ended December 31, 2008. Please be informed accordingly. Best Regards, Workpoint Entertainment Public Company Limited __________________________ (Mr.Kanchit Kawachat) Chief Financial Officer Authorized to sign on behalf of the company