Jasmine International Public Company Limited reports on reviewed financial statements for the second quarter of 1999, ending 30 June, 1999. These financial statements have been reviewed by the company's auditor and approved by the company's executive committee meeting No. 11/1999 held on 13 August, 1999. In addition, we are pleased to report the operating results which have changed from those of the same quarter last year.

To this respect, the company and its subsidiaries have net profit of BHT 399.44 million in the second of 1999. This shows a increase for BHT 1,778.47 million or 128.96% from BHT 1,379.03 million net loss in the second quarter of 1998. Causes of increase are as follows :

1. The company and its subsidiaries have a total sales and service income of BHT 1,761.74 million which increase by BHT 110.65 million or 6.70% from the same quarter last year. This was resulted from the projects such as the 800,000- telephone line expansion Zone 3, Broadband ISDN service, the rural long-distance public telephone, Directory Assistance System for Telephone Organization of Thailand Project, etc.
   

2. The company and its subsidiaries gained the total operating profit of BHT 313.47 million, which increased by BHT 141.74 million or 82.53% from the same quarter last year. This increase was resulted from the raise in sales and service income, Capital gain from selling investment and decrease interest burden. Profit breakdown is as follows:
   

   Profit amount (BHT Million)

   2.1	Jasmine International Overseas Co., Ltd. and its subsidiaries	82
   2.2	Acumen Co., Ltd.	76
   2.3	Jasmine Submarine Telecommunications Co., Ltd. and its subsidiary	64
   2.4	Jasmine Telecom Systems Co., Ltd.	46
   2.5	The company and Other subsidiaries	45

   
   

3. The company and its subsidiaries gained BHT 198.78 million from the foreign exchange rate which increase by BHT 987.40 million or 125.20% from the same quarter last year, where they lost BHT 788.62 million due to baht appreciation.
   

4. The company and its subsidiaries shares the loss in associated companies for BHT 112.81 million which decreased BHT 649.33 million or 85.19% from the same quarter last year. The decrease was resulted from the better of operation in local and overseas associated company.