Bangkok--8 Aug--Ratchaburi Electricity RATCH announced the Company and its subsidiaries’ 6 month operating performance of 2008. The Company recorded net profit at 2,969.56 million Baht or 2.05 Baht per share and prepared the efficiently internal administration for its business expansion. Ratchaburi Electricity Generating Holding PCL., announced its 6 month operating performance of 2008 with net profit of 2,969.56 million Baht or 2.05 Baht per share decreased by 29.11 % from the same period of last year. In addition, the Company gained 22,109.57 million Baht in total revenue, a decrease of 2,150.40 million Baht or 8.86% from the same period of last year. The Company’s total revenue consists of 21,296.23 million Baht from sales revenue, 514.76 million Baht from its affiliates’ profit sharing, 212.03 million Baht from the Company’s interest income and 86.55 million Baht from other incomes. Whereas the Company’s cost of sales and other expenses were 19,140.01 million Baht consisting of 18,450.10 million Baht in cost of sales and administration expense and 689.91 million Baht in interest expense and income tax. For the Company’s total asset as of June 30, 2008, it was 68,736.34 million Baht. In terms of the Company’s total liabilities, there was 29,690.14 million Baht. And the Company has 39,046.20 million Baht in total shareholders’ equity. The ratio of total liabilities per total shareholders’ equity was 0.76 and the Debt Service Coverage Ratio (DSCR) for the first half of 2008 was 2.08 Mr. Narong Sitasuwan, the Managing Director of Ratchaburi Electricity Generating Holding PCL., mentioned to the overall of 6 month operating performance in 2008 that the decline in the Company’s operating performance due to the Power Purchase Agreement stating the lower rate of Availability Payment in year 2008 and the insurance compensation from fire cause as well as the effect from the shared loss on foreign exchange of joint ventures were previously forecasted. So the Company remains the higher estimated total revenue for 2008 than 2007, which recorded 46,072 million baht. In the second half of 2008, the Company has no planned shutdown at Ratchaburi’s Power Plant. Moreover, Ratchaburi Power’s Power Plant has been operating the two blocks of its combined-cycle power plant, so the Company would receive the total proportion of its shared profit. For the dividend’s policy in the first half of 2008 for shareholders, the Company would announce the dividend payment after the approval resolution of Board of Directors’ meeting in August 2008. Nevertheless, the policy of paying no less than 40% dividend of the net profit after deducting the legal and other reserves remains the same. Mr. Narong added that the Company has prepared its readiness for the business expansion by restructuring the internal administration on August 1, 2008. This would be effective for the future domestic and foreign projects’ development. In terms of project progress, Nam Ngum 2 Hydro’s Power Plant has 57.2 % complete of its construction, which could be expected to start its commercial operation in 2013. For Hongsa Power Plant, which is in process of development, the Company and the joint venture, Banpu Group, are proposing the revision of electricity tariff in accordance with the higher construction cost.Company’s Information Ratchaburi Elecrtricity 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. And there is 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 partners at 70% 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]