14 November 2001

OPERATING RESULTS

November 14, 2001 Subject : Explanation of financial statement To : Secretary - General The Office of Securities and Exchange Commission, Thailand Attn. : Managing Director The Corporate Finance Department We, The Union Mosaic Industry Public Company Limited have sent you the company's financial Statement for the third quarter ended September 30,2001 that have been reviewed by the Certified Public Accountant. Our financial statement present net loss We would like to explain that matter as follows: Our performance present a net loss due to the economic difficulties and high competition situation Sincerely yours, ( Mr.Charan Amorntirakul ) Vice President - Administrative