Notification of the Operating Result for the Q1 0f Year 2009

TTW/0228/09 14 May 2009 Subject: Notification of the Operating Result for the First Quarter of Year 2009 To: President The Stock Exchange of Thailand The operating results of Thai Tap Water Supply Company Limited (the Company) and its subsidiaries for the first quarter period ended 31 March 2009 and 2008 has the net profit of Baht 305.8 million and Baht 303.2 million, respectively.The net profit for the first quarter of 2009 represent to increase 0.9% compared with the first quarter of 2008. However, the Company has some significant business transactions to effect to the revenues and expenses for the first quarter of 2009.Therefore, the Company hereby clarified such transactions as follows:- 1) The consolidated tap water sales increased by Baht 98.0 million or representing an increase of 11.6% because: a) The tap water sale volume of the Company increased by Baht 63.8 million or representing an increase of 11.6% since the tap water price increased from the previous year and the Minimum Offtake Quantities changed from 250,000 m3/day to 300,000 m3/day commencing from July 2008 onwards. As the result, tap water sale volume in the first quarter of 2009, which is below 300,000 m3/day, will be charged at the tap water price at Baht 23.55 per m3 while the tap water sale volume in the first quarter of 2008, which is higher than 250,000 m3/day, will be charged at Baht 10.24 per m3 or discounted at 55% of 2008 normal tap water price. b) The tap water sale of Pathum Thani Water Co., Ltd. increased by Baht 37 million or representing an increase of 12.3% since the sale volume increased by 0.6 million m3 or representing an increase of 2.3% and tap water prince increased from the previous year. 2) The cost of sales and services increased by Baht 39.8 million or representing increase of 15.2% since the Company paid the discount on sale of tap water for the period from 21 July 2003 to 21 January 2009 totaling Baht 25.7 million and the subsidiaries made repair and maintenance of water treatment plant and distribution stations approximately of Baht 5.0 million. 3) The selling and administrative expenses increased by Baht 11.9 million or representing an increase of 46.1% since the Company and its subsidiaries has the increase in employee expenses, legal fees, advertising and public relation expenses,and other of Baht 9.1 million. 4) The financial cost increased by Baht 46.1 million or representing an increase of 21.9% since a) the Company prepaid all outstanding balances of long-term loans inaggregate amount of Baht 5,839.8 million. As the result, the Company made a prepayment fee of Baht 116.8 million in accordance with long-term loan agreement; b) Pathum Thani Water Co., Ltd. paid agent fee of Baht 3.0 million; and c) the Company already cleared short-term loan of Baht 3,000 million since May 2008. As the result, no interest burden of short-term loan incurred in this period. Please be informed accordingly. Yours Faithfully, (Sompodh Sripoom) Managing Director