11. Inter-Company Transaction

The inter-business items between the Company and individuals who are
related can be shown as belows:

11.1 Inter-company transaction for the year ended on December 31, 2008,
2007 and 2006

+-----------------------+------------+-----------+------+------+------+
|                       | Nature o   | Type of   | As   |      |      |
|                       | f Business |  relation | of   |      |      |
|                       |            |           | Dece |      |      |
|                       |            |           | mber |      |      |
|                       |            |           | 31,  |      |      |
+-----------------------+------------+-----------+------+------+------+
|                       |            |           | 2008 | 2007 | 2006 |
+-----------------------+------------+-----------+------+------+------+
|                       |            |           | Thou | Thou | Thou |
|                       |            |           | sand | sand | sand |
|                       |            |           | Baht | Baht | Baht |
+-----------------------+------------+-----------+------+------+------+
| Interest receivable   |            |           |      |      |      |
| values                |            |           |      |      |      |
+-----------------------+------------+-----------+------+------+------+
| Plearn Patt Co., Ltd. | Priv       | Associate | 556  | -    | 107  |
|                       | ate School | d company |      |      |      |
+-----------------------+------------+-----------+------+------+------+
| Purchase goods values |            |           |      |      |      |
+-----------------------+------------+-----------+------+------+------+
| M AND E Co., Ltd.     | Printing   | A         | 1    | 1    | 1    |
|                       | office     | ssociated | ,594 | ,263 | ,678 |
|                       | company,   | company   |      |      |      |
|                       |            |           |      |      |      |
|                       | produces   |           |      |      |      |
|                       | technical  |           |      |      |      |
|                       |            |           |      |      |      |
|                       | magazines  |           |      |      |      |
|                       | and        |           |      |      |      |
|                       |            |           |      |      |      |
|                       | e          |           |      |      |      |
|                       | ngineering |           |      |      |      |
|                       | manuals    |           |      |      |      |
+-----------------------+------------+-----------+------+------+------+
| GMM Grammy Public     | Media &    | Sha       | 16   | 20   | 231  |
| Company Limited       | Printing   | reholders | ,131 | ,494 |      |
+-----------------------+------------+-----------+------+------+------+
| Bliss Publishing Co., | Media &    | Company   | 10   | 5    | 12   |
| Ltd.                  | Printing   | related   | ,202 | ,106 | ,655 |
|                       |            | with      |      |      |      |
|                       |            | sha       |      |      |      |
|                       |            | reholders |      |      |      |
+-----------------------+------------+-----------+------+------+------+

  (a) Inter-revenues and expenses

(b) Inter-asset and liabilities

+--------------------+---+------------+---+----------+--------+------+-------+
|                    |   | Nature o   |   | Type of  | As of  |      |       |
|                    |   | f Business |   | relation | De     |      |       |
|                    |   |            |   |          | cember |      |       |
|                    |   |            |   |          | 31,    |      |       |
+--------------------+---+------------+---+----------+--------+------+-------+
|                    |   |            |   |          | 2008   | 2007 | 2006  |
+--------------------+---+------------+---+----------+--------+------+-------+
|                    |   |            |   |          | Th     | Thou | Tho   |
|                    |   |            |   |          | ousand | sand | usand |
|                    |   |            |   |          | Baht   | Baht | Baht  |
+--------------------+---+------------+---+----------+--------+------+-------+
| Loan due from      |   |            |   |          |        |      |       |
| associated company |   |            |   |          |        |      |       |
+--------------------+---+------------+---+----------+--------+------+-------+
| Ple                |   | Private    |   | As       |        |      |       |
| arn Patt Co., Ltd. |   | School     |   | sociated |        |      |       |
|                    |   |            |   | company  |        |      |       |
+--------------------+---+------------+---+----------+--------+------+-------+
| Beginning balance  |   |            |   |          | -      | -    | 9,000 |
+--------------------+---+------------+---+----------+--------+------+-------+
| Increased in the   |   |            |   |          | 16,000 | -    | -     |
| period             |   |            |   |          |        |      |       |
+--------------------+---+------------+---+----------+--------+------+-------+
| Received in the    |   |            |   |          | (      | -    | (9    |
| period             |   |            |   |          | 5,000) |      | ,000) |
+--------------------+---+------------+---+----------+--------+------+-------+
| Ending balance     |   |            |   |          | 11,000 | -    | -     |
+--------------------+---+------------+---+----------+--------+------+-------+
| Accrued interest   |   |            |   |          |        |      |       |
| receivable         |   |            |   |          |        |      |       |
+--------------------+---+------------+---+----------+--------+------+-------+
| Plearn Patt Co.,   |   | Private    |   | As       | 211    | -    | -     |
| Ltd.               |   | School     |   | sociated |        |      |       |
|                    |   |            |   | company  |        |      |       |
+--------------------+---+------------+---+----------+--------+------+-------+
|                    |   | Nature o   |   | Type of  | As of  |      |       |
|                    |   | f Business |   | relation | De     |      |       |
|                    |   |            |   |          | cember |      |       |
|                    |   |            |   |          | 31,    |      |       |
+--------------------+---+------------+---+----------+--------+------+-------+
|                    |   |            |   |          | 2008   | 2007 | 2006  |
+--------------------+---+------------+---+----------+--------+------+-------+
|                    |   |            |   |          | Th     | Thou | Tho   |
|                    |   |            |   |          | ousand | sand | usand |
|                    |   |            |   |          | Baht   | Baht | Baht  |
+--------------------+---+------------+---+----------+--------+------+-------+
| Trade accounts     |   |            |   |          |        |      |       |
| payable            |   |            |   |          |        |      |       |
+--------------------+---+------------+---+----------+--------+------+-------+
| M AND E Co., Ltd.  | P |            | A |          | 2,023  | 1    | 1,780 |
|                    | r |            | s |          |        | ,999 |       |
|                    | i |            | s |          |        |      |       |
|                    | n |            | o |          |        |      |       |
|                    | t |            | c |          |        |      |       |
|                    | i |            | i |          |        |      |       |
|                    | n |            | a |          |        |      |       |
|                    | g |            | t |          |        |      |       |
|                    | o |            | e |          |        |      |       |
|                    | f |            | d |          |        |      |       |
|                    | f |            | c |          |        |      |       |
|                    | i |            | o |          |        |      |       |
|                    | c |            | m |          |        |      |       |
|                    | e |            | p |          |        |      |       |
|                    | c |            | a |          |        |      |       |
|                    | o |            | n |          |        |      |       |
|                    | m |            | y |          |        |      |       |
|                    | p |            |   |          |        |      |       |
|                    | a |            |   |          |        |      |       |
|                    | n |            |   |          |        |      |       |
|                    | y |            |   |          |        |      |       |
|                    | , |            |   |          |        |      |       |
|                    |   |            |   |          |        |      |       |
|                    | p |            |   |          |        |      |       |
|                    | r |            |   |          |        |      |       |
|                    | o |            |   |          |        |      |       |
|                    | d |            |   |          |        |      |       |
|                    | u |            |   |          |        |      |       |
|                    | c |            |   |          |        |      |       |
|                    | e |            |   |          |        |      |       |
|                    | s |            |   |          |        |      |       |
|                    | t |            |   |          |        |      |       |
|                    | e |            |   |          |        |      |       |
|                    | c |            |   |          |        |      |       |
|                    | h |            |   |          |        |      |       |
|                    | n |            |   |          |        |      |       |
|                    | i |            |   |          |        |      |       |
|                    | c |            |   |          |        |      |       |
|                    | a |            |   |          |        |      |       |
|                    | l |            |   |          |        |      |       |
|                    |   |            |   |          |        |      |       |
|                    | m |            |   |          |        |      |       |
|                    | a |            |   |          |        |      |       |
|                    | g |            |   |          |        |      |       |
|                    | a |            |   |          |        |      |       |
|                    | z |            |   |          |        |      |       |
|                    | i |            |   |          |        |      |       |
|                    | n |            |   |          |        |      |       |
|                    | e |            |   |          |        |      |       |
|                    | s |            |   |          |        |      |       |
|                    | a |            |   |          |        |      |       |
|                    | n |            |   |          |        |      |       |
|                    | d |            |   |          |        |      |       |
|                    |   |            |   |          |        |      |       |
|                    | e |            |   |          |        |      |       |
|                    | n |            |   |          |        |      |       |
|                    | g |            |   |          |        |      |       |
|                    | i |            |   |          |        |      |       |
|                    | n |            |   |          |        |      |       |
|                    | e |            |   |          |        |      |       |
|                    | e |            |   |          |        |      |       |
|                    | r |            |   |          |        |      |       |
|                    | i |            |   |          |        |      |       |
|                    | n |            |   |          |        |      |       |
|                    | g |            |   |          |        |      |       |
|                    | m |            |   |          |        |      |       |
|                    | a |            |   |          |        |      |       |
|                    | n |            |   |          |        |      |       |
|                    | u |            |   |          |        |      |       |
|                    | a |            |   |          |        |      |       |
|                    | l |            |   |          |        |      |       |
|                    | s |            |   |          |        |      |       |
+--------------------+---+------------+---+----------+--------+------+-------+
| GMM Grammy Public  | M |            | S |          | 8,870  | 5    | -     |
| Co., Ltd.          | e |            | h |          |        | ,192 |       |
|                    | d |            | a |          |        |      |       |
|                    | i |            | r |          |        |      |       |
|                    | a |            | e |          |        |      |       |
|                    | & |            | h |          |        |      |       |
|                    | P |            | o |          |        |      |       |
|                    | r |            | l |          |        |      |       |
|                    | i |            | d |          |        |      |       |
|                    | n |            | e |          |        |      |       |
|                    | t |            | r |          |        |      |       |
|                    | i |            | s |          |        |      |       |
|                    | n |            |   |          |        |      |       |
|                    | g |            |   |          |        |      |       |
+--------------------+---+------------+---+----------+--------+------+-------+
| Bliss Publishing   | M |            | C |          | 5,109  | 6    | 2,537 |
| Co., Ltd.          | e |            | o |          |        | ,190 |       |
|                    | d |            | m |          |        |      |       |
|                    | i |            | p |          |        |      |       |
|                    | a |            | a |          |        |      |       |
|                    | & |            | n |          |        |      |       |
|                    | P |            | y |          |        |      |       |
|                    | r |            | r |          |        |      |       |
|                    | i |            | e |          |        |      |       |
|                    | n |            | l |          |        |      |       |
|                    | t |            | a |          |        |      |       |
|                    | i |            | t |          |        |      |       |
|                    | n |            | e |          |        |      |       |
|                    | g |            | d |          |        |      |       |
|                    |   |            | w |          |        |      |       |
|                    |   |            | i |          |        |      |       |
|                    |   |            | t |          |        |      |       |
|                    |   |            | h |          |        |      |       |
|                    |   |            | s |          |        |      |       |
|                    |   |            | h |          |        |      |       |
|                    |   |            | a |          |        |      |       |
|                    |   |            | r |          |        |      |       |
|                    |   |            | e |          |        |      |       |
|                    |   |            | h |          |        |      |       |
|                    |   |            | o |          |        |      |       |
|                    |   |            | l |          |        |      |       |
|                    |   |            | d |          |        |      |       |
|                    |   |            | e |          |        |      |       |
|                    |   |            | r |          |        |      |       |
|                    |   |            | s |          |        |      |       |
+--------------------+---+------------+---+----------+--------+------+-------+

0.  11.2 Need and reasonable of related party transactions Transactions
    amongst the Company, associated companies and related parties shall
    be approved by the Audit Committee, for fair transactions and
    appropriate costs compared to outside persons transactions and no
    interests transfer between the Company subsidiaries, associated
    companies and related parties.

The Board of Directors’ meeting as of 3/2008 dated August 8, 2008,
approved the principle concerning the general trade conditions in
business activities between the Company and Company’s subsidiaries and
directors and management executives, or involved persons. The approval
is to allow the management to approve on said business activities. If
those business activities has the agreed trade similar in manner with
what the competent person should act toward the other party signed in
the contract, under same circumstance, without trade bargaining power
that may be influenced by the persons who act as directors, management
executives, or concerned person, so that it is in accordance with the
Security Exchange law (issue# 4) 2008, took effect on August 31, 2008.

1.  With this, the Company/management team will work on report to
    summarize business activities valued above THB 2 million per quarter
    to be submitted to Board of Directors in each quarter.

    11.3 Transactions between related parties Transactions between the
    Company, management or Shareholders, or related parties are
    considered by the volume of transactions (according to the
    regulations defined by the Stock Exchange of Thailand). The Company
    has designated executives who are Members of the Board, comprising
    of Mr. Thanong Chotisorayuth, Mr. Viboolsak Udomvanich and Mr.
    Pongsak Sivapatrakumpol to approve transactions, by which agreements
    have to be signed and co–signed by two out of three executives.

Related transactions with executives or Shareholders that meet the
regulations determined by the SET have to follow those regulations.

Connected transactions with common interest persons need to be concurred
by an external Committee or independent experts.

11.4 Policy and trend of future transactions The Company may have
transactions with major Shareholders and executives in the future which
are in the forms of leasing, service providing, and copyright contracts
for the mutual benefit of the Company by disclosure of the types and
amount of related transactions between the Company and probable
conflicted persons accordance with the promulgations and regulations of
SEC and SET.