5. Assets Utilization in the Course of Business

Book value of Property, Plant and Equipment and Leasehold as follow :

(Unit : Million Baht)

  ------------------ ----------- ---------- ---------- ---------- ------------ ---------- ----------
  Assets             Type        Book Value                       Collateral              
                                                                  against bank            
                                                                  overdrafts              
                                                                  and                     
                                                                  long-term               
                                                                  loans                   

                                 31/12/08   31/12/07   31/12/06   31/12/08     31/12/07   31/12/06

  Land               Owner       26.10      26.10      26.10      -            -          -

  Building           Owner       7.68       8.67       9.66       -            -          -

  Building           Owner       97.74      75.53      73.66      -            -          -
  Decoration                                                                              

  Office Equipment   Owner       173.52     159.01     149.26     -            -          -

  Vehicles           Owner       14.56      7.49       4.18       -            -          -

  Work-In-Progress   Owner       25.63      11.83      1.21       -            -          -

  Leasehold          Area rights 129.12     141.73     154.29     -            -          -
                     holder                                                               

  Total                          474.35     430.36     418.36                  -          -
  ------------------ ----------- ---------- ---------- ---------- ------------ ---------- ----------

5.1 Major characteristics of the fixed assets consisting of land,
buildings, equipment and leasehold summarized as follows :

1.  The Company owns the leasehold of space, parking and service at
    Nation Tower Building. The term of the leasehold is active for 3
    years, remaining term is approximately 1 year and 2 months and also
    maintain the right to renew the contract for another 3 more years.

2.  The Company has obtained 3 warehouse leasing contracts (at King Kaew
    Road). The term of 2 contracts will last for 3 years, and 1 contract
    last for 12 years and 9 months, started from January 1, 2006 to June
    14, 2009, and also started from December 15, 2008 to August 14, 2021
    respectively. It also maintaining the right to renew the contract
    for another 3 more years. The rented spaces are used for the purpose
    of warehousing and book distribution.

3.  The Company obtains the leasehold of space usage for 283 SBC
    locations limiting 1 year to 12 years, with which the contract has 6
    more year left. In general, the Company has made two types of space
    renting contracts that are the renting fees from the value of each
    branch sales, in which case the percentage rate depends upon the
    contract agreed between the two parties concerned and the rental
    rate is constant.

4.  Currently the Company is the holder of 13 leaseholds for the space
    usage of operating bookstores in leading shopping centers, with the
    average lease duration from 15 years to 8 months to 30 years. The
    remaining lease term is now 2 years 8 months to 18 years whereas the
    net book value amount as of December 31, 2008 is THB 129.12 million.

5.2 Intangible Assets The main feature of the Intangible Assets is the
copyrights for publishing in which the Company does direct contracts
with copyright holders. These contracts are with the average duration of
3 years, which are renewed for 3 years automatically after the expiry
date, or until the printout. Currently, the Company holds internal and
foreign copyright contracts summarized as follows :

  December 31, 2008

  -------------------------------------------------- --------------------
  Copyright Contracts                                Copies

  Internal Copyright Contracts                       1,484

  Foreign Copyright Contracts                        1,424
  -------------------------------------------------- --------------------

5.3 Investment Policy in Subsidiary and Associated Companies

Investment policy : Apart from the main business, the Company also
invests in the business that is related to the main business or business
that supports the Company’s operation and in line with the main
objective in that it facilitates the learning to gain knowledge that
allows Thais knowledge development in the field that is crucial to the
national development and business opportunity in long appropriate term
for the Company.

The control of Company’s subsidiary and associated companies : The
Company has only one subsidiary company that is SE-ED Book Center
Company Limited founded on May 11, 2001. By establishing a company to
create the trade name SE-ED Book Center as a registered company, it
helps to prevent the Company from being violated by other party in terms
of copyrights infringement by using the same name.

Furthermore, the Company has two associated companies.

1.  M & E Company Limited SE-ED has assigned a director to this company.
    Mr. Thanong Chotisorayuth is the Director.

2.  Plearn Patt Company Limited, and the Company has assigned 2
    Directors to be the Directors of this company, and the Directors to
    this company are as shown below.

  ------------------------------------ ----------------------------------
  Name                                 Position

  1. Mr. Thanong Chotisorayuth         Director and Executive Director

  2. Mr. Viboolsak Udomvanich          Executive Director
  ------------------------------------ ----------------------------------