SUBMISSION OF F/S AND OPERATING RESULTS

Translation 12 October 2002 Subject : Submission of Financial Statements for the quarter 3/2002 To : Director and Manager Stock Exchange of Thailand Enclosed please find the consolidated Financial Statements of Siam Makro Public Company Limited for the third quarter ended September 30, 2002 which have been reviewed by the Company's Certified Public Accountant. The Company has earned net profit after tax of Baht 746 million for the period of 9 months ended September 30, 2002 which decreased 2.7% from Baht 767 million in the same period last year. For the third quarter of 2002, the Company reported net profit after tax of Baht 208.9 million while it was Baht 241.7 million in the same period last year. The decreased net profit was due mainly to following reasons: 1. Consolidated sales in the third quarter decreased by 5.6% of last year resulted from no sales of Makro Auto Care Co., Ltd. as a consequence of the disposal of the entire interest in Makro Auto Care Co., Ltd. in the second quarter of this year. Sales of the Company and Makro Office Centre Co., Ltd. slightly decreased by 2.5% of last year due to the decrease of Bangkok sales, which reflected the impact of increased competition especially in pricing. However, the Company had increased its upcountry sales. 2. The proportion of food sales to total sales increased as compared to those numbers of last year, which caused the drop in total Company gross margin. 3. Although the Company increased its one new store in the second quarter of this year, total selling and administrative expenses has been continuously reduced by 22.6% of the same period last year. This was due to tightening control over each store's expenses. Please be informed accordingly. Yours faithfully, Siam Makro Public Company Limited Signature (Charoen Assawajarukasem) SET Coordinator Manager