Bangkok--14 May--Minor Corporation Minor Corporation’s (Minor) 1Q08 net profit increased by 108% to Baht 156 million and total revenues increased by 8% to Baht 932 million. YoY net profit was up as Minor’s share of profit from its 18.8% shareholding in Minor International (MINT) increased by 95% to Baht 143 million. Excluding the profit contribution from MINT, Minor’s core lifestyle brands distribution business performed well in 1Q08 despite a challenging retail environment. Minor’s lifestyle brand sales and distribution business, which accounted for 53% of total 1Q08 sales showed an 11% increase in revenues to Baht 418 million. Sales from the fashion business increased by 12% to Baht 294 million on the performance of brands such as Esprit, Bossini, Timberland Charles & Keith and Jeanwest. Sales from the cosmetics business, which includes brands such as Red Earth, Bloom, Laneige and Smash Box, increased by 24% to Baht 63 million. Net operating profit from the lifestyle brands and distribution business was up 18% in 1Q08. Minor’s contract manufacturing business, which accounted for 46% of total 1Q08 sales, achieved a 6% YoY decrease in sales as some of its fast moving consumer goods (FMCG) customers delayed production orders due to the discontinued packaging of some product. The company expects that the delayed orders will be recovered later this year. Minor’s factory, which began operating in 4Q04, continues to be one of Southeast Asia’s leading contract manufacturers and it is well positioned to accommodate new customers and support higher production volumes in the future. In 1Q08, Minor’s equity accounted share of profit from MINT increased by 95% YoY. MINT’s 1Q08 net profit increased by 67% YoY to 750 million. Having increased its stake in MINT from 4.3% to 18.8% 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 303% since the acquisition to Baht 16.10 per share as of May 9. The market value of Minor’s stake in MINT is Baht 9.8 billion. Minor Corporation (Minor) is a leading distributor of international lifestyle brands in Thailandfocusing primarily on fashion, cosmetics and education. Its brands include Esprit, Red Earth, Bossini, Timberland, Charles & Keith, Jeanwest, Bloom, Laneige, Smash Box, Tumi, Zwilling J.A. 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 18.8% stake in Minor International. For more information on Minor, please visit www.minornet.com