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Clarification performance of Q1/2008 as at 31 Mar. 2008

Syntec Construction Public Company Limited ( "SYNTEC " ), would like
to clarify the Company and Joint Ventures Financial Statement ending on 31
March 2008 , showed a total profit of Bt38.898 million, while the same fiscal
period of performance of 2007 showed a total profit of Bt50.656 million,
decreasing by Bt11.758 million or decreasing of 23.21% by the reasons for the
change in the first quarter of 2008’ performance more than 20% are as follows:
1. SYNTEC has the Doubtful accounts in valued at Bt41.456 million.
2. The Selling and administrative expenses is Bt48.484million
increasing from the same period of 2007 by Bt16.647million (52.29%)
3. However, The portion of Cost of sales and service per Sales and
services income is decreasing to 92.53% that 1.62% less than the same period
of 2007.

Furthermore, the progressive status of loans to related parties are
as follows:
1. Short-term Loans to Related Parties
Joint Venture (JV)
-JV between SYNTEC and Federal Engineering Co.,Ltd., valued at
Bt11.59 million (fully provision). In the currently, the JV is in the process
of document collection for dissolved registered firm to Revenue department to
dissolve accounting required by the law.
-JV between SYNTEC and Underground Technologies (Thailand) Co., Ltd.,
valued at Bt.2.03million. Furthermore, SYNTEC will follow up for the rest debt
from Metropolitan Electricity Authority (MEA) .
-SVK JV. valued at Bt.3.85 million. Increasing by Bt.0.19 million
from the fee of bank guarantee and auditing payment. Currently, SYNTEC will
follow up for the rest debt from The Thai Airways International Plc.
-SSU JV. valued at Bt.0.37 million. Increasing by Bt.0.05 million
from the fee of bank guarantee and auditing payment. Currently, SYNTEC will
follow up for the rest debt from The Aeronautical Radio of Thailand Co.,Ltd.
-SM JV. valued at Bt.37.46 million. Currently, the projects has
on-going with National Housing Authority.
Other Related Companies
-Federal Engineering Co., Ltd., valued at Bt20.52 million (fully
provision). Currently,SYNTEC is in the process of document collection for
dissolved registered firm to Revenue
department and will set the provision as the bad debt afterward.
2. Long-term Loans to Related Parties
Joint Venture (JV)
-JV between SYNTEC and Federal Engineering Co., Ltd., valued at
Bt28.65 million (fully provision). Currently, the JV is in the process of
document collection for dissolved registered firm to Revenue department to
dissolve accounting required by the law.
-Siam Syntec-Wattana Engineering Joint Venture, valued at Bt12.18
million (fully provision). Currently, SYNTEC is in the process of document
collection for dissolved registered firm to Revenue department and will set
the provision as the bad debt afterward.
Other Related Companies
-Gentech Engineering Co., Ltd., valued at Bt4.96 million (fully
provision). Currently,SYNTEC is in the process of document collection for the
pursuit litigation to the Court.
3. Other Long-term Loans
The Company has remaining 2 other long-term loans, valued at
Bt180.76 million (fully provision). These loans are Bt177.76 million to Syntec
Genesis Co., Ltd, Bt3.00 million to Metro Fabricator Co., Ltd., Currently,
SYNTEC is in the process of document collection for the pursuit litigation to
the Court.
Please be informed accordingly.
Sincerely yours,

(Mr.Somchai Sirilertpanich)
Managing Director

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