Bangkok--2 May--RATCH Ratchaburi Holding Announced its Unreviewed 1st Quarter Operating Performance of Year 2008 with Net Profitat 1,704 Million Baht or 1.18 Baht per Share RATCH announced the Company and its subsidiaries’ unreviewed 1st quarter operating performance of year 2008. The Company recorded net profit at 1,703.85 Million Baht, which is 16.83% or 344.89 Million Baht decreasing from the same period in the previous year and calculated as 1.18 Baht per share. Mr. Narong Sitasuwan, the Managing Director of Ratchaburi Electricity Generating Holding PCL. mentioned to the unreviewed operating performance in the 1st quarter of year 2008 that it is satisfactory with 1,703.85 Million Baht in net profit even though it shows 16.83% or 344.89 Million Baht decreasing from the same period in the previous year. According to the Power Purchase Agreement, which the rate of availability payment in year 2008 is lower than year 2007 as well as the shutdown for parts & equipment maintenance of the Thermal power plant Unit 2 at Ratchaburi’s Power Plant, the availability payment in the 1st quarter of 2008 was 2,872.84 Million Baht causing 440.89 Million Baht or 13.30% down from the last year. However, the Company received 450.17 Million Baht from its affiliates’ profit sharing, increasing 76.20% or 194.68 Million Baht from the same period of last year consisting of an increase in profit sharing of Ratchaburi Power Co., Ltd. at 175.78 Million Baht resulted from the Ratchaburi Power Co., Ltd. received an increase in the exchange rate at 130.99 Million Baht and the Company received 44.79 Million Baht from the commercial operation of a 700-MW Rachaburi Power’s Combined-Cycle Block 1 since March 2008. In the 1st quarter of year 2008, the Company gained 11,589.34 Million Baht in total revenue, consisting of 10,982.84 Million Baht from sales revenue, 111.51 Million Baht from the Company’s interest income, 44.81 Million Baht from management service fee and other incomes and 450.17 Million Baht from its affiliates’ profit sharing. Whereas the Company’s cost of sales and other expenses were 9,885.49 Million Baht, consisting of 9,398 Million Baht in cost of sales, an increase due to the higher cost in power plant’s maintenance of the Combined-Cycle power plant Block 3 at Ratchaburi’s power plant, 129.78 Million Baht in administration expense, 7.02 Million Baht in the directors’ remuneration. Meanwhile the Company’s interest expense was 323.95 Million Baht and income tax was 26.74 Million Baht. For the Company’s total asset as at March 31, 2008, it was 71,502.41 Million Baht, comprising 21,297.29 Million Baht as a current asset and 50,205.12 Million Baht as a non-current asset. In terms of the Company’s total liabilities, there was 32,126.92 Million Baht consisting of 10,155.94 Million Baht for current and 21,970.98 Million Baht for non-current liabilities, which was a decrease at 2.12% compared with the ending period of December 31, 2007. In order that the Company has 39,375.49 Million Baht in total shareholders’ equity demonstrated by its ratio of debt to equity ratio at 0.82 time and debt service coverage ratio at 2.26 times. Company’s Information Ratchaburi Electricity Generating Holding PCL is a leading independent power producer in Thailand with 4,347 MW in total capacity deriving from its investment in many power plant projects both domestic and international. The Company’s capacity portion by equity own in domestic projects are as follows: The current commercial operating plants are located in Ratchaburi province consisted of a 3,645-MW Ratchaburi’s Power Plant, a 350-MW Tri Energy’s Power Plant, a 350-MW Ratchaburi Power’s Power Plant as well as a 1.75-MW power generating from Associated Gas Project in Sukhothai province. The investment in international projects are consisted of a 153.75-MW Nam Ngum 2’s Hydro Power Plant, a 110-MW Nam Ngum 3’s Hydro Power Plant, a 93-MW Xae Pien-Xae Nam Noi’s Hydro Power Plant and a 661-MW Hongsa’s Power Plant in Lao PDR. While a 3,660-MW Koh Kong’s Power Plant, which the Company has a capacity portion with its joint-venture partner at 70% stake is in Cambodia. For more information, please contact Public Relations Department, Ratchaburi Electricity Generating Holding PCL. Wiwan Phayakvichien and Duangkeaw Dheinsawadkij Tel: 0 2978 5221, 0 2978 5224 E-mail [email protected]