2.8 Capital Structure

1. Company’s Capital

During the year 2003, the Company’s registered capital was 860,000,000
and the paid up capital had been increased from the conversion of the
US-W1 from the existing shareholders as well as from the ESOP scheme for
the total of 8,719,780 shares or 43,598,900 Baht thus the new paid up
capital had been increased from 537,007,480 baht in the year 2002 to be
580,606,380 Baht toward the end of 2003 by divided into a total of
116,121,276 common shares.

2. The Shareholders

The names and the share holding ratio of each of the top 10 shareholders
as at 31 December 2003 are listed below:

+--------+--------------------------+------------------+--------------+
|        | Names of Shareholders    | Amount held      | %            |
+--------+--------------------------+------------------+--------------+
| 1.     | Thailand Securities      | 64,915,590       | 55.90        |
|        | Depository               |                  |              |
|        |                          |                  |              |
|        | Co.,Ltd. for (domestic)  |                  |              |
|        | depositors               |                  |              |
+--------+--------------------------+------------------+--------------+
| 2.     | Thailand Securities      | 25,534,200       | 21.99        |
|        | Depository               |                  |              |
|        |                          |                  |              |
|        | Co.,Ltd. for (foreign)   |                  |              |
|        | depositors               |                  |              |
+--------+--------------------------+------------------+--------------+
| 3.     | Town Holding Co.,Ltd.    | 14,331,959       | 12.34        |
+--------+--------------------------+------------------+--------------+
| 4.     | Mr.Vitoon Wongkusolkit   | 4,229,170        | 3.64         |
+--------+--------------------------+------------------+--------------+
| 5.     | Ufinvest Co.,Ltd.        | 2,896,911        | 2.49         |
+--------+--------------------------+------------------+--------------+
| 6.     | TME Capital Co., Ltd.    | 716,040          | 0.62         |
+--------+--------------------------+------------------+--------------+
| 7.     | Mr.Issara Wongkusolkit   | 327,105          | 0.28         |
+--------+--------------------------+------------------+--------------+
| 8.     | Mr.Kanit Sarasin         | 322,800          | 0.28         |
+--------+--------------------------+------------------+--------------+
| 9.     | Pol.Lieu.Col.Chinnapat   | 262,800          | 0.23         |
|        | Sarasin                  |                  |              |
+--------+--------------------------+------------------+--------------+
| 10.    | Mr.Kalin Sarasin         | 262,800          | 0.23         |
+--------+--------------------------+------------------+--------------+

Remarks: The Wongkusolkit group consists of Town Holding Co., Ltd.
Ufinvest Co., Ltd., TME Capital Co., Ltd., City Holding Co., Ltd. and
members of the Wongkusolkit family which compiled to the total amount
of24.36 million shares or about 20.98% of the Company’s paid- up
capital.

3. The Dividend Payment Policy

The Company and its subsidiary have the policy to pay its dividend to
the shareholders about 50% of the net profit of each year.