Audit Committee’s Report

The Board of Directors of SE–EDUCATION Public Company Limited resolved
in the appointment of the Company’s Audit Committee which consists of
three individual – Mr. Saroch Lamlertprasertkul, Committee Chairman, Mr.
Pravit Tantiwasinchai and Mr. Phairat Sittakul, Committee Members. Each
of the Committee was not the Company senior management or employee. And
Mr. Wachiratham Siriarchawattana is the secretary to the Committee.

The Audit Committee, who have been appointed by the Board of Director,
has the scopes, duties, and responsibilities to review financial reports
in compliance with approved Accounting Standards, to reveal sufficiently
and timely in relation to information, to review good corporate
governance and risk management, to review internal control systems and
internal audits as being proper and effective, to verify the Company
operation to perform in accordance with the SET Act with sufficient
disclosure, to ensure transparency in the case of overlapping items or
the issues involving conflicts of interest, to consider auditor state of
independence, to select and submit for appointment of auditor and
consider compensation to the auditor each year.

The Audit Committee had 5 meetings all year round of 2006 which was one
one meeting with the executives in the issue with the following
substance.

1.  Review of quarterly and annual financial statement reports 2006: The
    Audit Committee held the total of 5 meetings. The Audit Committee
    had regular meetings with the auditor, the management, accounting
    department and internal audit department to review the financial
    statements at each quarter and also at the year’s end December 31,
    2006 before submission to the Board of Directors to make certain
    that the Company’s financial statement was in line with accounting
    standard and regulations outlined by Stock Exchange of Thailand
    (SET), Securities Exchange Commission (SEC), and other related
    supervisory authority. It also appropriately and timely disclosed
    all details about Company’s financial position. The audit Committee
    held joint meeting with auditor, management department, accounting
    department, and internal audit, to consider the accuracy,
    completeness, and sufficiency of information disclosure in financial
    statement on a quarterly and annual basis, and also consider the
    adjustments of accouting items that might essentially affect the
    financial statement.

2.  Select and submit for appointment of auditor : The Audit Committee
    considered the selection of auditor. The Committee also considered
    state of independence of auditor and determined the appropriate
    compensation to be presented to the Board of Directors for the
    request of final approval from Shareholders’ meeting to appoint the
    auditor.

3.  Supervision of good corporate governance : Audit Committee monitors
    to ensure that there is sufficient and transparent openness of
    Company’s information; and the operation was in compliance with the
    regulations stated by SET, SEC and regulations of related
    supervisory authority. In addition, the Committee reviewed the
    policy on corporate good governance, environmental and social
    responsibilities, and the Company’s promotion of good governance
    practices, well managed, transparent, and retraceable, to build
    trust and confident for all investors, supervisory authority,
    Stakeholders and finally result in the connection of thoughts that
    drive towards mutual benefit.

4.  Review of risk management practices : In overseeing the risk
    management practices, the Committee continued to ensure that the
    Company’s risk was at the acceptable level. The Committee reviewed
    the Company’s risk management plan for year 2006 and acknowledged
    the report of the risk management practices, periodically.

5. Review of internal control assessment : The Committee performed the
review of the Company’s internal audit control to ensure a proper
internal control and effective and sufficient usage of resources, assets
protection, damage reduction, misconduct, the reliability of financial
information. The auditor presented opinion that was in agreement with
the fact that no essential issues or shortcomings were found to affect
the financial statement.

6. Supervision of internal audit : The Committee has reviewed the
operation, auditing plan for year 2006, and manpower. It acknowledged
and assessed the performance of the audit division to make certain the
proper internal controls are practiced as planned. The Committee also
jointly reviewed the plan for annual audit year 2006 to 2007 which
determined the risk that may occur and could mainly affect financial
statement and the Company’s operation. The audit activities include the
auditing of accounting and financial on computer and information system,
and also other areas that may affect the Company’s operation. The
Committee agrees that the Company’s internal control system had no
essential issues that will affect the Company, and the Committee already
reported to the Board of Directors.

The Committee recognizes the importance of proper internal control, risk
management, and good corporate governance which will ensure the
Company’s sufficient internal control and adequate risk management at
suitable and acceptable level, and has good corporate governance and
accurate and credible financial report.

(Mr.Saroch Lamlertprasertkul)

Chairman of the Audit Committee

March 9, 2007