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TAPACO PUBLIC COMPANY LIMITED
Corporate Information Message from the chairman

Dear Shareholders

For the performance of Tapaco Public Company Limited for the year ended 31 October 2008, the Company reported company-only net profits of Baht 27.4 million. Total revenue was up 0.5% to Baht 402.4 million, but costs of sales declined by Baht 18 million, or 5.8% from the previous year. Interest expense also declined by Baht 3.6 million, or 33% decline, from the previous year. As a result, the Company’s net profits improve significantly from accounting year 2007.

In the past, the Company was affected by rising crude prices, which affect both cost of sales and administration expenses. However, the falling costs of sales are resulted from continual efficiency and quality improvement program implemented by the Company.

Despite the global recession in 2009 from the financial crisis in the United States, the Company still focuses on improving quality and efficiency to best satisfy customers.

Sincerely yours,

Mr. Taiji Ninomiya
Chairman
Tapaco Public Company Limited