TERIM FINANCIAL STATEMENT Q2-1999

Net income (loss) before share of profits (lossses) from subsidiaries and associates and income tax 1,031,934 1,756,726 (307,989) 3,470,481 Share of profits (losses) from subsidiaries and associates - - - - Income tax (1,784) (13,723) - - Minority interest 1,682 2,531 (381) (3,406) NET INCOME (LOSS) FOR THE PERIOD 1,031,832 1,745,534 (307,608) 3,473,887 EARNINGS (LOSS) PER SHARE Net income (loss) (Baht) 1.97 3.33 (0.59) 6.65 The notes to the financial statements on pages 7 to 22 form an integral part of these financial statements. Auditor's report page 1. Unaudited Reviewed Electricity Generating Public Company Limited Page 4 Company and consolidated statements of changes in shareholders' equity for the second quarters and the six-month periods ended June 30, 1999 and 1998 Note The company only 1999 second quarter six-month (Baht'000) (Baht'000) SHARE CAPITAL Balance brought forward 5,228,092 5,227,092 Increase 14,619 15,619 Balance carried forward 5,242,711 5,242,711 SHARE PREMIUM Balance brought forward 8,528,184 8,526,184 Increase 29,238 31,238 Balance carried forward 8,557,422 8,557,422 Unrealised gain on investments in marketable securities available for sales Balance brought forward 48,155 - Increase 17,623 65,778 Balance carried forward 65,778 65,778 LEGAL RESERVE Balance brought forward 102,643 102,643 Balance carried forward 102,643 102,643 Unappropriated retained earnings (accumulated deficit) Balance brought forward 2,275,516 1,574,164 Net income (loss) for the period 1,031,832 1,745,534 Dividends 12 (663,968) (663,968) Directors' bonus (9,454) (21,804) Balance carried forward 2,633,926 2,633,926 Total shareholders' equity 16,602,480 16,602,480 Note The company only 1998 second quarter six-month (Baht'000) (Baht'000) SHARE CAPITAL Balance brought forward 5,213,271 5,212,338 Increase 13,821 14,754 Balance carried forward 5,227,092 5,227,092 SHARE PREMIUM Balance brought forward 8,498,542 8,496,676 Increase 27,642 29,508 Balance carried forward 8,526,184 8,526,184 Unrealised gain on investments in marketable securities available for sales Balance brought forward - - Increase - - Balance carried forward - - LEGAL RESERVE Balance brought forward 19,793 19,793 Balance carried forward 19,793 19,793 Unappropriated retained earnings (accumulated deficit) Balance brought forward (630,528) (4,412,023) Net income (loss) for the period (307,608) 3,473,887 Dividends 12 - - Directors' bonus - - Balance carried forward (938,136) (938,136) Total shareholders' equity 12,834,933 12,834,933 Note Consolidation 1999 second quarter six-month (Baht'000) (Baht'000) SHARE CAPITAL Balance brought forward 5,228,092 5,227,092 Increase 14,619 15,619 Balance carried forward 5,242,711 5,242,711 SHARE PREMIUM Balance brought forward 8,528,184 8,526,184 Increase 29,238 31,238 Balance carried forward 8,557,422 8,557,422 Unrealised gain on investments in marketable securities available for sales Balance brought forward 48,155 - Increase 17,623 65,778 Balance carried forward 65,778 65,778 LEGAL RESERVE Balance brought forward 102,643 102,643 Balance carried forward 102,643 102,643 Unappropriated retained earnings (accumulated deficit) Balance brought forward 2,275,516 1,574,164 Net income (loss) for the period 1,031,832 1,745,534 Dividends 12 (663,968) (663,968) Directors' bonus (9,454) (21,804) Balance carried forward 2,633,926 2,633,926 Total shareholders' equity 16,602,480 16,602,480 Note Consolidation 1998 second quarter six-month (Baht'000) (Baht'000) SHARE CAPITAL Balance brought forward 5,213,271 5,212,338 Increase 13,821 14,754 Balance carried forward 5,227,092 5,227,092 SHARE PREMIUM Balance brought forward 8,498,542 8,496,676 Increase 27,642 29,508 Balance carried forward 8,526,184 8,526,184 Unrealised gain on investments in marketable securities available for sales Balance brought forward - - Increase - - Balance carried forward - - LEGAL RESERVE Balance brought forward 19,793 19,793 Balance carried forward 19,793 19,793 Unappropriated retained earnings (accumulated deficit) Balance brought forward (630,528) (4,412,023) Net income (loss) for the period (307,608) 3,473,887 Dividends 12 - - Directors' bonus - - Balance carried forward (938,136) (938,136) Total shareholders' equity 12,834,933 12,834,933 The notes to the financial statements on pages 7 to 22 form an integral part of these financial statements. Auditor's report page 1. Unaudited Reviewed Electricity Generating Public Company Limited Page 5 Company and consolidated statements of cash flows for the second quarters and the six-month periods ended June 30, 1999 and 1998 The company only 1999 second quarter six-month (Baht'000) (Baht'000) Cash flows from operating activities : Net income (loss) for the period 1,031,832 1,745,534 Adjustments to reconcile net income (loss) to net cash Unrealised losses (gains) on exchange rate - - Depreciation and amortisation 7,328 10,755 Gains from disposal of marketable securities (3,249) (49,900) Increase in LCM provision - - Dividend received from other companies (3,686) (90,113) Shares of losses (profits) from subsidiary and associated companies (1,025,386) (1,624,953) Cash flows before changes in working capital 6,839 (8,677) Changes in working capital : Deposits at banks and financial institutions used as collateral - - Account receivable - trade - - Advance and loans to associated companies (21,230) (31,600) Spare parts and supplies - - Other current assets 12,988 2,485 Other assets 1,991 2,513 Accounts payable - trade - - Other current liabilities 26,866 (30,867) Net cash provided by (used in) operating activities 27,454 (66,146) The company only 1998 second quarter six-month (Baht'000) (Baht'000) Cash flows from operating activities : Net income (loss) for the period (307,607) 3,473,887 Adjustments to reconcile net income (loss) to net cash Unrealised losses (gains) on exchange rate - - Depreciation and amortisation 3,044 6,779 Gains from disposal of marketable securities (40,849) (79,586) Increase in LCM provision 14,598 14,598 Dividend received from other companies - (960) Shares of losses (profits) from subsidiary and associated companies 418,576 (3,263,221) Cash flows before changes in working capital 87,762 151,497 Changes in working capital : Deposits at banks and financial institutions used as collateral - - Account receivable - trade - - Advance and loans to associated companies 28 4,300 Spare parts and supplies - - Other current assets (44,733) (46,383) Other assets (278) (255) Accounts payable - trade - - Other current liabilities 330 8,848 Net cash provided by (used in) operating activities 43,109 118,007 Consolidation 1999 second quarter six-month (Baht'000) (Baht'000) Cash flows from operating activities : Net income (loss) for the period 1,031,832 1,745,534 Adjustments to reconcile net income (loss) to net cash Unrealised losses (gains) on exchange rate (194,222) 40,954 Depreciation and amortisation 443,407 877,706 Gains from disposal of marketable securities (3,249) (49,900) Increase in LCM provision - - Dividend received from other companies (3,686) (90,113) Shares of losses (profits) from subsidiary and associated companies (23,301) (2,340) Cash flows before changes in working capital 1,250,781 2,521,841 Changes in working capital : Deposits at banks and financial institutions used as collateral 1,132,600 (10,033) Account receivable - trade 55,469 (206,021) Advance and loans to associated companies (10,453) (34,461) Spare parts and supplies (107,895) (144,042) Other current assets 60,814 (8,796) Other assets 1,991 2,012 Accounts payable - trade (30,998) (124,302) Other current liabilities (614,146) (51,668) Net cash provided by (used in) operating activities 1,738,163 1,944,530 (More)