[Translation] Ref. PDI/BK-02-09/2004 19 February 2004 To : President The Stock Exchange of Thailand Re: Clarification on the company's performance results in 2003 Enclosed are the copies of PDI's audited financial statements and consolidated financial statements for the year ended 31 December 2003 in both Thai and English version. In year 2003, the Company had achieved improvement in production efficiency and operating cost. Total zinc metal production was 113,715 tons and total metal sold was 113,941 tons increase 8.1% and 7.5% respectively from the year 2002 as a result of growing domestic demand for zinc metal and the LME zinc price has slightly increased to 828 USD or increased 6.29% from the year 2002. Nevertheless, other factors did affect overall profits, including higher cost for imports of raw materials, a 3.43 percent appreciation of Thai Baht over the US dollar and the increase in major operating costs such as electricity and fuel. Bearing these factors in mind, the company reported as follows: From the company's statement of income on Equity Method, the company's revenues from sales was Bt4,828m which increased from year 2002 by Bt447.7m or a 10.22% increase. There was a net profit of Bt2.8m or an earning per share of 0.01 Baht as compared to a net loss of Bt28.6 or a net loss per share of 0.13 Baht in year 2002. From the company's consolidated statement of income, total revenues from sales was Bt4,835.9m which increased from the year 2002 by Bt446.3m or a 10.17% increase. There was a net profit of Bt2,841 or a net earning per share of 0.0000125 Baht as compared to a net loss of Bt29.1m or a net loss per share of 0.13 Baht in year 2002. Please be informed accordingly. Yours truly, - Signature - (Mr. Pinit Vongmasa) Chief Executive Officer Board Secretary Division Tel. 0 2661 9900 Ext. 1402, 1501 Fax. 0 2661 9946 Page 1 of 1