CLSAAsia Investors’ Forum

January 14 – 17, 2008

Industry OverviewFinancial Highlights

2

Company Background:Company Background:

38 years of experience in television.

12 more years to go under the existing license.

Concession fees were duly fixed.

Much more than an ordinary television company.

3

The Businesses:The Businesses:Broadcasting

& Media:

An operator of a nation-wide free terrestrial TV network, known as Channel 3.

An operator of 3 FM radio stations in Bangkok.

The owner of Thai popular web-sites “ThaiTV3.Com”; “BECNews.Com”

4

The Businesses:The Businesses:

Sourcing, Producing, Promoting

& Distributing Programmes:

Well established in Thai entertainment industry.

Used mainly on Channel 3.

Expanding to other types of entertainment activities:

Live Shows, Sport Events, etc.

5

11stst 9mth -2007 Revenue: 9mth -2007 Revenue:

Advertising Income

Copyright & Other Services

Concerts & Shows

Advertising Revenues are dominant part of our revenues.

6

TV Advertising Trend:TV Advertising Trend:

0

10,000

20,000

30,000

40,000

50,000

60,000Bt m

High Growth Rate – Recovers FastSource: AGB Nielsen Media Research

YoY '93 '94 '95 '96 '97 '98 '99 2000 '01 '02 '03 '04 '05 '06

Growth 34% 25% 14% 19% 10% -15% 11% 18% 8% 14% 13% 12% 6% 7%

7

TV ADEX-2003-2006

TV Adex Ch.3 Ch.5 Ch.7 Ch.9 Ch.11 TITV Industry

2006 11,392 8,549 14,627 7,684 1,505 9,239 53,475

2005 10,392 8,238 14,010 6,956 1,171 9,244 50,011

2004 10,806 7,866 13,734 6,443 970 7,351 47,170

2003 10,857 7,923 12,030 4,554 996 5,928 42,288

’06 YoY 14.2% 3.8% 4.4% 10.5% 28.5% 17.3% 6.9%

'05 YoY -3.8% 4.7% 2.0% 8.0% 20.7% 25.8% 6.0%

'04 YoY -0.5% -0.7% 14.2% 41.5% -2.6% 24.0% 11.5%

Source: AGB Nielsen Media Research

8

Advertising Expenditure Trends:Advertising Expenditure Trends:

Source: AGB Nielsen Media Research

ESTIMATED TOTAL ADVERTISING EXPENDITURE BY MEDIUM

1H 07 VS 06

BAHT MILLIONS

MEDIA 1H 07 SOV% 1H 06 SOV% DIFF % Change

TV 25,452 56.76 26,299 60.17 (847) (3.22)

RADIO 3,046 7.61 3,217 7.81 (171) (5.32)

NEWSPAPERS 7,354 17.10 7,756 16.36 (402) (5.18)

MAGAZINES 2,855 6.54 2,960 6.96 (105) (3.55)

CINEMA 1,978 5.36 679 2.20 1,299 191.31

OUTDOOR 2,236 4.97 2,315 5.04 (79) (3.41)

TRANSIT 417 1.01 468 1.12 (51) (10.90)

IN STORE 266 0.65 118 0.35 148 125.42

TOTAL 43,604 100.00 43,812 100.00 (208) (0.47)

9

Source: AGB Nielsen Media Research

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

    CHANNEL3

    CHANNEL5

    CHANNEL7

    CHANNEL9

TITV     CHANNEL11

1H'07 1H'06

Advertising Spends on TV Advertising Spends on TV 1H’07 vs 1H’061H’07 vs 1H’06

Baht : Millions

+8.4%

+2.5%

-2.9%

-16.5%

-12.0%

-12.7%

10

Market Shares 1H-2007:Market Shares 1H-2007:

0

5

10

15

20

25

30

35

40

45

Ch.3 Ch.5 Ch.7 Ch.9 Ch.11 TITV

% Share of adspend Share of viewers

Source: AGB Nielsen Media Research

11

Top 20 Advertisers on Television 1H07:Top 20 Advertisers on Television 1H07:

Source: AGB Nielsen Media Research

 

1H/07 1H/06 %CHG  3 5 7 9 TITVADVERTISER (000 BAHT) %CHG %CHG %CHG %CHG %CHG

UNILEVER (THAI) 2,451,516 2,302,717 6.5% 18.8% -6.7% -0.6% 13.1% 8.4%

PROCTER & GAMBLE 698,114 717,175 -2.7% -8.1% -40.3% 19.8% -46.0% -53.5%

BEIERSDORF (THAILAND) 491,927 453,248 8.5% 22.2% 26.9% 0.1% 114.0% -22.9%

COLGATE-PALMOLIVE 478,252 386,540 23.7% 40.7% 223.4% -4.0% 218.3% 30.7%

L'OREAL (THAILAND) 449,513 260,483 72.6% 71.7% 578.4% 38.1% 78.9% 54.1%

NESTLE(THAI) LTD. 445,914 469,689 -5.1% 25.6% -34.7% 3.5% -38.6% -55.9%

KAO COMMERCIAL 375,565 333,709 12.5% 19.5% 54.5% 16.7% -19.9% -15.6%

ADVANCE INFO SERVICE 352,588 364,440 -3.3% 39.2% 73.0% 1.6% 55.0% -53.7%

JOHNSON&JOHNSON 343,660 272100 26.3% 19.6% 44.8% 23.7% 22.2% 56.0%

LION (THAILAND) 315,838 235607 34.1% 29.9% 128.8% 18.9% 10.4% 5.3%

OSOTSPA- TECK HENG YOO 315,011 366,180 -14.0% -18.1% 23.0% -27.1% 22.6% -16.2%

AJINOMOTO SALES 280,667 287,053 -2.2% 9.6% 14.4% 2.5% -15.4% -17.8%

TOTAL ACCESS COMM. 271,940 271,563 0.1% 47.7% -14.1% 3.7% -29.9% -51.1%

TRI PETCH ISUZU 270,971 219,248 23.6% 2.2% 22.2% 20.1% 49.2% 29.3%

TOYOTA MOTOR 269,030 385,692 -30.2% -29.4% 88.3% -46.1% -36.2% -53.6%

PTT PUBLIC CO.,LTD. 235,117 334,679 -29.7% -39.5% 5.9% -72.5% -42.5% -21.7%

SIAM CEMENT GROUP 194,198 157,731 23.1% 53.7% 134.6% 0.1% -16.8% 37.2%

UNICHARM (THAILAND). 193,437 133,947 44.4% 70.8% -4.5% 81.4% 63.3% -4.8%

CEREBOS(THAILAND) 191,394 139,466 37.2% 86.0% 71.7% 48.3% 15.3% -64.2%

SIAM COMMERCIAL BANK 187,683 24312 672.0% 708.0% 971.0% 1028.2% 718.2% 229.5%  

Exclude Government and Music Spending:

12

Top 20 Advertisers on Television 1H07:Top 20 Advertisers on Television 1H07:

Source: AGB Nielsen Media ResearchExclude Government and Music Spending:

   

 Grand Total

3 5 7 9 TITVADVERTISER (000 BAHT) % % % % %

  UNILEVER (THAI) 2,451,516 22.4% 8.2% 32.4% 11.3% 25.6%

  PROCTER & GAMBLE 698,114 40.9% 5.2% 50.1% 1.5% 2.3%

  BEIERSDORF (THAILAND) 491,927 40.1% 4.6% 32.8% 7.6% 14.9%

  COLGATE-PALMOLIVE 478,252 48.2% 2.4% 35.4% 4.0% 10.1%

  L'OREAL (THAILAND) 449,513 28.1% 12.5% 29.4% 11.4% 18.5%

  NESTLE(THAI) LTD. 445,914 38.5% 4.7% 44.5% 5.3% 7.0%

  KAO COMMERCIAL 375,565 29.8% 11.8% 40.4% 6.0% 11.8%

  ADVANCE INFO SERVICE 352,588 24.3% 11.8% 39.4% 9.1% 15.4%

  JOHNSON&JOHNSON 343,660 37.6% 13.4% 30.4% 11.2% 7.4%

  LION (THAILAND) CO.,LTD. 315,838 20.3% 28.1% 17.3% 10.3% 24.1%

  OSOTSPA (TECK HENG YOO) 315,011 28.3% 14.0% 24.7% 15.8% 15.1%

  AJINOMOTO SALES 280,667 25.2% 12.9% 35.3% 7.5% 19.2%

  TOTAL ACCESS COMM. 271,940 35.7% 11.8% 37.2% 10.0% 5.2%

  TRI PETCH ISUZU SALES 270,971 23.0% 16.8% 14.8% 24.8% 20.4%

  TOYOTA MOTOR THAILAND 269,030 25.7% 22.3% 23.9% 16.9% 10.6%

  PTT PUBLIC CO.,LTD. 235,117 16.9% 21.6% 7.6% 19.5% 15.8%

  SIAM CEMENT GROUP 194,198 28.7% 10.2% 32.2% 10.1% 18.7%

  UNICHARM (THAILAND) 193,437 27.3% 10.3% 38.6% 8.7% 15.1%

  CEREBOS(THAILAND) 191,394 43.8% 7.6% 32.0% 12.7% 3.9%

 SIAM COMMERCIAL BANK 187,683 32.0% 16.4% 26.0% 13.4% 11.6%

13

Top Gainers 1H’07Top Gainers 1H’07

Rank (Baht x 1,000) FIRST HALF

2007Changes 1H07-06

No.

PRODUCT SECTION Amt. % Amt. %

1 SKIN CARE PREP

ARATION

2,553,0

57 10.0

%445,5

6821.1

%

2 TOILETRIES

1,448,1

90 5.7

%168,4

5713.2

%

3 SUNDRIES

233,51

4 0.9

%156,3

20202.

5%

4 BANKS

370,04

6 1.5

%110,2

8142.5

%

5 FOODSTUFFS

1,062,3

35 4.2

%103,4

6310.8

%

6 VITAMIN & SUPP.

FOOD

449,59

1 1.8

%99,54

428.4

%

7 HOUSEHOLD CLE

ANER…

934,90

5 3.7

%95,20

711.3

%

8 REAL ESTATE

268,32

1 1.1

%93,26

153.3

%

9 ORAL PRODUCT

641,39

3 2.5

%66,93

011.7

%

10 EDUCATIONAL IN

STITU…

195,61

8 0.8

%66,41

551.4

%

Source: AGB Nielsen Media Research

14

Top Losers 1H’07Top Losers 1H’07

Rank (Baht x 1,000) FIRST HALF

2007Changes 1H07-06

No.

PRODUCT SECTION Amt. % Amt. %

45 PETROL

211,31

5 0.8

%

-82,75

1

-28.1

%

46 DAIRY PRODUCT

832,83

2 3.3

%

-92,37

0

-10.0

%

47 SNACK FOOD

393,77

4 1.5

%

-96,55

6

-19.7

%

48 NON ALCHOHOLIC

BEVER..

1,660,

119 6.5

%

-126,3

90-

7.1%

49 CERDIT/DEBIT CAR

DS

164,33

9 0.6

%

-143,8

08

-46.7

%

50 GOVERNMENT & C

OMMU…

1,250,

263 4.9

%

-240,2

57

-16.1

%

51 CD/VDO & MUSIC P

RO…

899,49

4 3.5

%

-242,2

15

-21.2

%

52COMMUNICATIONS

1,222,

048 4.8

%

-369,2

72

-23.2

%

53 ALCOHOLIC BEVER

AGES

365,10

3 1.4

%

-483,9

56

-57.0

%

54 LEISURE

1,060,

496 4.2

%

-494,3

98

-31.8

%

Source: AGB Nielsen Media Research

15

Advertising Expenditure Trends:Advertising Expenditure Trends:

Source: AGB Nielsen Media Research

ESTIMATED TOTAL ADVERTISING EXPENDITURE BY MEDIUM

Last 5 months (Jul-Nov) 07 VS 06

BAHT MILLIONS

MEDIA 2007 SOV% 2006 SOV% DIFF % Change

TV 23,321 57.99 22,723 59.49 598 2.63

RADIO 2,775 6.90 2,799 7.33 (24) (0.86)

NEWSPAPERS 6,932 17.24 6,269 16.41 663 10.58

MAGAZINES 2,561 6.37 2,691 7.05 (130) (4.86)

CINEMA 2,042 5.08 1,157 3.03 885 76.49

OUTDOOR 1,873 4.66 1,966 5.15 (93) (4.73)

TRANSIT 453 1.13 434 1.14 19 4.38

IN STORE 256 0.64 157 0.41 99 63.06

TOTAL 40,213 100.00 38,196 100.00 2,017 5.28

16

Advertising Expenditure Trends:Advertising Expenditure Trends:

Source: AGB Nielsen Media Research

ESTIMATED TOTAL ADVERTISING EXPENDITURE BY MEDIUM

1st 11 Months (Jan-Nov) 07 VS 06

BAHT MILLIONS

MEDIA 2007 SOV% 2006 SOV% DIFF % Change

TV 48,773 58.19 49,022 59.78 (249) (0.51)

RADIO 5,821 6.94 6,016 7.34 (196) (3.26)

NEWSPAPERS 14,286 17.04 14,025 17.10 261 1.86

MAGAZINES 5,416 6.46 5,651 6.89 (235) (4.16)

CINEMA 4,020 4.80 1,836 2.24 2,184 118.95

OUTDOOR 4,109 4.90 4,281 5.22 (172) (4.02)

TRANSIT 870 1.04 902 1.10 (32) (3.55)

IN STORE 522 0.62 275 0.34 247 89.82

TOTAL 83,817 100.00 82,009 100.00 1,808 2.20

17

Industry Reform:Industry Reform:

The Broadcasting Bill is about to be effective.

The reform is about to begin.

The reform is “blessing in disguised” for BEC as the industry will be more transparent and orderly.

Long awaited new investment opportunities in domestic market will be opened for BEC.

18

Baht:Millions 3Q07 +/-

QoQ +/- YoY Advertising 1,814 6.0% 18.2%

Copyright & Services 55 1.0% -35.3%

Concerts & Shows 169 426.3% 2.8%

Total Sales Revenue 2,037 13.3% 14.3%

3rd Quarter of 2007 Highlights:3rd Quarter of 2007 Highlights:

Net Earnings 605 2.8% 41.6%

19

BEC WorldBEC WorldOperating ResultsOperating Results

BEC World First 11 months of 2007

Operating Results ฿ Million  % +/- YoY

Total Sales Revenues 5,606 100% 456 9%

Operating Costs

Cost of Services 2,026 38% -135 -6%

Cost of Shows 281 93% -11 -4%

Cost of Sales & Services 2,307 41% -145 -6%

Selling & Admin. Expenses 923 17% 7 1%

Total Operating Costs 3,230 58% -139 -4%

Operating Profit 2,376 42% 595 33%

Share of Associates' Results -28 -1% -14 105%

Other Income 134 2% 44 49%

Profit Before Tax 2,483 44% 624 34%

Corporate Income Tax 716 13% 186 36%

Profit After Tax 1,766 32% 438 33%

Profit of Minority's Interest 32 1% 32 161215%

NET PROFIT 1,734 31% 406 31%

20

High Operating Leverage:High Operating Leverage:

As our operating costs and expenses are mostly fixed in nature, thus BEC World has high operating leverage.

Our profitability will improve greater than the growth rate of our revenue growth.

0.60

0.80

1.00

1.20

1.40

1.60

1.80

2.00

2.20

2.40

2.60

2.80

3.00

Revenue Profit

Revenue and Profit Growth

(1Q99 is BASE)

21

BEC’s Dividend History:BEC’s Dividend History:

BEC World intends to grow its dividend as well as to retain high payout ratio.

With our ability to make profit and the fact that we normally generates more cash than the reported profit, thus these objectives are not that difficult. 0.25

0.50

0.75

1.00

1.25Baht per share