Bangkok--15 Aug--MINOR Minor Corporation's (Minor) total revenues increased by 2% in 2Q07 to Baht 798 million despite a weak retail business environment caused by continued declines in consumer confidence. Net profit was in-line with the previous year at Baht 41 million as the contract manufacturing business achieved a 70% YoY increase in operating profit. A 7% YoY decrease in sales from the lifestyle brands distribution business was offset by higher contract manufacturing sales and equity profitsfrom an investment in Minor International (MINT). Minor currently holds 19% of MINT which has equity accounted for this investment since 3Q05. Minor's lifestyle fashion and cosmetic sales and distribution business, which accounted for 39% of total 2Q07 sales showed an 7% decrease in revenues to Baht 289 million. 2Q07 net operating profit was down YoY as aggressive pricing and promotional campaigns were required given the unfavourable business environment. On breakdown performance, sales of fashion brands declined by 8%, however MINOR's cosmetic brand sales unchanged from the previous year. Minor's contract manufacturing business, which accounted for 54% of total 2Q07 sales, achieved a 10% YoY increase in sales and a 70% YoY increase in net operating profit. Minor's new factory, which began operating in 4Q04 and was built to accommodate new customers and support higher production volumes, continued to secure new customers and operate at higher production capacities. In 2Q07, Minor's equity accounted share of profit from MINT increased by 23% YoY. MINT's 2Q07 net profit increased by 5% YoY to 230 million. Having increased its stake in MINT from 4.3% to 19% since 3Q05 by acquiring shares at Baht 4.0 per share, Minor's investment in MINT has performed well with MINT's share price increasing by 338% since the acquisition to Baht 13.50 per share as of Aug 10. The market value of Minor's stake in MINT is worth Baht 7.6 billion. Minor Corporation (Minor) is a leading distributor of international lifestyle brands in Thailand focusing primarily on fashion, cosmetics and education. Its brands include Esprit, Red Earth, Bossini, Timberland, Charles & Keith, Bloom, Laneige, Tumi, Henckels, Time Life, and World Book. It owns and operates one of Thailand's leading contract manufacturers and maintains an investment portfolio of listed and private securities including a 19% stake in Minor International. For more information on Minor, please visit www.minornet.com For more information please contact Pratana Manomaiphiboon / Prapharat Tangkawattana / Jim Fralick at Tel: (662) 381-5151 Minor International PCL 99 Berli Jucker Building 17Fl., Soi Rubia, Sukhumvit 42 Rd., Bangkok 10110, Thailand DID: + 66 2 365 7636 Tel: +66 2 381 5151 ext 7636 Fax: +66 2 3815137