January 29, 2008 Subject : Clarification for the Utilization of IPO Funds Attention : The President of The Stock Exchange of Thailand As Tirathai Public Company Limited made the Initial Public Offering (IPO) for 30,000,000 shares at Baht 5.75 per share with the total funds received of Baht 172,500,000 and net received after deduction for IPO expenses (Baht 5,190,000) of Baht 167,310,000. The report on the utilization of the IPO fund, which was sent to SET on 27 July 2007, showed the outstanding balance of Baht 25.65 million. We, therefore, would like to report an update on the utilization of the IPO fund as of 31 December 2007 as follows: (Million Baht) Objectives According Cumulative Use of fund during Remaining to the plan use of fund July - December 2007 fund 1.Increase production 30.00 11.79 2.88 18.21 2.Loans repayment 83.65 83.65 4.56 - 3.Working capital 53.66 53.66 - - Total 167.31 149.10 7.44 18.21 For the objective - IPO fund for the objective of increase the production capabilities, we are now in process of purchased the machinery's already and will install on Q4/2007 to Q1/2008 , which expect to complete in the Q1/2008. Your Faithfully, (Mr.Upakrom Thaweephoke) Deputy Managing Director (Finance and Marketing)