Submission of F/S and Explanation for Profit Change

Translation 11 May 2005 Subject : Submission of Financial Statements for the quarter 1/2005 To : Director and Manager Stock Exchange of Thailand Enclosed please find the consolidated Financial Statements of Siam Makro Public Company Limited for the first quarter ended March 31, 2005 which have been reviewed by the Company's auditor. For the first quarter of 2005, the Company's profit before income tax was Baht 370 million, 15.3% over the same quarter last year. Net profit after tax was Baht 256 million, 13.8% growth over the same period last year. During the first quarter of 2005, we have remodeled and relaunched 2 more stores i.e. Surat Thani and Charansanitwongse, making total remodeled stores up to 12 stores out of 21 planned stores. The higher profit was attributed mainly to the 22.5% increase in total sales as the result of continuous growing in fresh food and dry food and from five new stores opened during the past twelve months in Suphan Buri, Chanthaburi, Phuket, Roi Et and Trang. The consolidated sales also included operating results of one subsidiary which we acquired since January 1,2005. Please be informed accordingly. Yours faithfully, Siam Makro Public Company Limited Signature (Mr. Charoen Assawajarukasem) SET Coordinator Manager