SUBMISSION OF F/S AND EXPLANATION FOR PROFIT CHANGE

Translation 9 May 2000 Subject : Submission of financial statements for the quarter 1/2000 To : Director and Manager Stock Exchange of Thailand Please find enclosed the consolidated financial statements of Siam Makro Public Company Limited for the quarter ended March 31, 2000 which have been reviewed by the Company's auditor. For the first quarter of 2000, the Company reported net profit after tax of Baht 226 million, up 61.8% form the same period last year. The increase in net profit was a result of 15.3% increase in sales which mainly come from the existing stores. Other operating income increased 31.8% from the same quarter in 1999. In addition, the Company has opened a new Makro store on March 2000 at Narathiwasratchanakharin Rd., Sathorn, Bangkok. Please be informed accordingly. Yours faithfully, Siam Makro Public Company Limited Signature (Suchada Ithijarukul) Director