1. Analyst Meeting : August 20, 2001 1 2Q 2001 Earnings Analyst Conference 20 th August 2001

2. Analyst Meeting : August 20, 2001 2 Highlighted Issues  TA ’ s sales & revenue strategy/ Market competitiveness  Regulatory environment  Organization strategy CP Orange Financial Results and Financial Risk Reduction Strategy Summary Outline

3. Analyst Meeting : August 20, 2001 3 TA’s Sales & Revenue Strategy/ Market Competitiveness High Capacity Utilization Business / Data Market Leader

4. Analyst Meeting : August 20, 2001 4 High Capacity Utilization Strategy To accelerate the utilization of the remaining 900K lines capacity already invested in Why free installation promotion product bundling promotions What by lowering barrier to entry for all potential customers by targeting promotions that have a short payback period on customer acquisition cost by launching high impact promotion campaigns that stimulate demand How

5. Analyst Meeting : August 20, 2001 5 1H 2001 Net Additions of 138,780 Surpassing FY 2000 High Capacity Utilization Strategy Net Additions (1H 2001 vs FY 2000) Net Additional Lines (lines per quarter) Net Additions (TA vs. TOT)

6. Analyst Meeting : August 20, 2001 6 Effect on ARPU : Better Customer ARPU Ramp-Up Compared to Last Year’s Customer ARPU Ramp-Up (POTS+PCT) 0 200 400 600 800 1,000 1st bill2nd bill3rd bill4th bill5th bill6th bill Customer Bill No. ARPU (Bt./month) New Subs in Jan 2001 New Subs in Jan 2000 Takes 4 mths to reach steady state ARPU for new added subscribers in 2001 High Capacity Utilization Strategy

7. Analyst Meeting : August 20, 2001 7 ROIC / ARPU – Wireline + PCT Baht / Customer / Month ARPU (Wireline+PCT) up 2.6% YoY ARPU (Wireline only) dropped 4.3% YoY High Capacity Utilization Strategy

8. Analyst Meeting : August 20, 2001 8 Overall, the Capacity Utilization Strategy Has Yielded Favorable Results Expanded customer base across both business and residential segments TA’s net add substantially exceeds TOT’s BMA net add Capacity utilization strategy has had no negative impact on ARPU Increase in churn is a natural, industry-wide phenomenon One time increase in customer acquisition cost, but will be recovered within a short period of time (~ 6 months) The negative effects of intensified competition have been offset by the positive results of the Capacity Utilization strategy Results of Strategy High Capacity Utilization Strategy

9. Analyst Meeting : August 20, 2001 9 differentiating TA Group ’ s products via product bundling  POTS + PCT (lend PCT handsets for 3 years)  POTS + Internet access (ClickTA, TA Express, and affordable PC ’ s)  POTS + CPO mobile + PCT extending the lowered barrier to entry promotions High Capacity Utilization Strategy For 2H 2001, our sales strategy will focus on:

10. Analyst Meeting : August 20, 2001 10 Consumer:Business Revenue Mix Business / Data Market Leader TOT’s high Business:Consumer revenue mix (>55%) implies that TA has significant room to grow in the Business segment Consumer <45% Business >55% FY 1999 2Q 2001 Consumer 53% Business 47% Consumer 50% Business 50% Source:TelecomAsia - BD/PD TA

11. Analyst Meeting : August 20, 2001 11 Reorganized Business & Enterprise dept. to be nimble by reducing layers and expanding span of control Brought in ex-GM of Dell Computers Thailand to head Business & Enterprise Further segmenting the business market by establishing Strategic Accounts and Strategic Buildings sales units Positioning to be the first mover in the emerging wholesale market segment Developing special packages targeting the low-key, but potentially high ARPU SME and SOHO segments Created “Biz Center” dedicated to serving key business customers Progressing Towards Business Segment Leadership Business / Data Market Leader

12. Analyst Meeting : August 20, 2001 12 Cumulative Circuit Billed (1999-2001) 426 net circuit billed in first half 2001, 11.5% growth from YE 2000 Revenues continue to grow due to focus on high-bandwidth customers Digital Data Network; a basic and high-growth data service Circuit DDN Revenues (1999-2001) Bt Mn Business / Data Market Leader

13. Analyst Meeting : August 20, 2001 13 Source : NIDA School of Applied Stats, 2001 Leased Line or DDN Market Shares by No. of Links in greater BKK Focus on high bandwidth, high margin market Solution based & consultation approach Business / Data Market Leader 19972001 Source : IDC

14. Analyst Meeting : August 20, 2001 14 Complete Broadband Solutions TA Broadband Services & FY 2001 Target Customers  ADSL  Cable Modem  ISP Wholesale Ports  Internet Dial-up Business / Data Market Leader Other Data & Internet Services

15. Analyst Meeting : August 20, 2001 15 Broadband Service Development Access & Basic Infrastructure Wholesale & Content Infrastructure Development e.g. IDC Gigabit Ring/Internet Xchange e-Commerce Development MAP, Content Aggregation Development Business / Data Market Leader

16. Analyst Meeting : August 20, 2001 16 Telecom Business Act NTC TOT Privatization vs. Concession Conversion Regulatory Environment

17. Analyst Meeting : August 20, 2001 17 Regulatory Environment Telecom Business Act Draft of Telecom Business Act has passed the Cabinet. The draft Bill is now at Senate’s Standing Committee on Communications  Assurance for TA to be awarded with License  Mechanism to convert the Concession NTC Senate rejected the proposed NTC. The issue was submitted to The Juridical Council by the Permanent Secretary Attached to The Prime Minister Office.

18. Analyst Meeting : August 20, 2001 18 Regulatory Environment TOT Privatization and Concession Conversion The government is encouraging the privatization process to be finished by YE2001. State Enterprise Policy Committee has appointed the new Concession Conversion Sub-committee. The Sub-committee appointed Chulalongkorn University as advisor and to conduct the study on the Concession Conversion framework.

19. Analyst Meeting : August 20, 2001 19 Management Level vs. Competency (De-Layering) Regulatory Function Internal Audit / Risk Management Innovation & Profit Oriented Organization Organization Strategy

20. Analyst Meeting : August 20, 2001 20 CP Orange Remark : CP Orange slides are excluded from this handout.

21. Analyst Meeting : August 20, 2001 21 Financial Results & Financial Risk Reduction Strategy

22. Analyst Meeting : August 20, 2001 22 2Q 2001 Results EBITDA 5% Growth Net Additions - Wireline 165% Growth Total RevenuesCore Operating Expenses 11% Growth In MB Subs. 17% Growth

23. Analyst Meeting : August 20, 2001 23 1H 2001 Results EBITDA 5% Growth Net Additions - Wireline 129% Growth Total RevenuesCore Operating Expenses 11% Growth In MB Subs. 17% Growth

24. Analyst Meeting : August 20, 2001 24 2Q’012Q’00 % 1H’011H’00 % Chg Chg Core Wireline-Voice3,8313,648 57,5947,1037 Basic Wireline-Voice3,3313,255 26,5966,3624 Value Added Services500393 2799874135 Wireless833526 581,6361,19537 Usages683375 821,31175175 Handset Sales&Others150151 -325444(27) Data Communications10178 2919915132 Broadband/Internet258240 85074796 Others6674 (10)13411814 Total5,0894,566 1110,0709,04611 2Q 2001 & 1H 2001 Results Revenue Profile Unit: THB Million

25. Analyst Meeting : August 20, 2001 25 2Q’012Q’00 % 1H’011H’00 % ChgChg “Core” Opex 1,5321,313 17 2,9432,50817 Personnel Expenses550479151,08496313 Network Expenses478422138658117 Selling & Promotions1931364236025442 Others3112761263448032 Revenue Sharing79869615 1,5661,37014 Cost of Sales25416752 49335638 Cash Operating Expenses2,5842,17618 5,0024,23418 Depreciation & Amortization1,9401,9181 3,8703,7952 Total4,5244,09410 8,8728,02911 Operating Expense Profile Unit: THB Million 2Q 2001 & 1H 2001 Results

26. Analyst Meeting : August 20, 2001 26 EBITDA Margin Revenue5,0894,56610,0709,046 EBITDA2,5052,3905,0684,812 EBITDA margin (%)49.252.3(310 bp)50.353.2(290 bp) Product sale margin (%)(51.5)8.6(39.1)26.6 Normalized EBITDA margin (%)52.754.2(150 bp)53.654.7(110 bp) 2Q ’ 01 2Q ’ 00 Diff 1H ’ 01 1H ’ 00 Diff 2Q 2001 & 1H 2001 Results

27. Analyst Meeting : August 20, 2001 27 2Q’012Q’00 % 1H’011H’00 % ChgChg Cash flows from operations1,4596571222,5401,37185 Less Capital expenditure942505871,34577574 Free cash flow5171522401,195596101 Cash Flow Highlights Unit: THB Million 2Q 2001 & 1H 2001 Results

28. Analyst Meeting : August 20, 2001 28 Debt / EBITDA EBITDA/ Interest Coverage Cash Flow from OperationsConsolidated Debt Profile In MB 85% Growth EOY 200079642,74623,38775,178 30 June 2001 787 42,609 23,131 74,479 Change(9)(137)(256)(699) Remark : FX rates as of 30 June 2001 US$ YEN Baht Equiv. Baht 2Q 2001 & 1H 2001 Results

29. Analyst Meeting : August 20, 2001 29 2001 % G 1H01(A) 1H00(A) % G (Target) Revenue (MB) EBITDA (MB) Line billed (thousand lines) ARPU POTS (Bt/line/mth) PCT subs (thousand) ARPU PCT (Bt/sub/mth) CAPEX (MB) Headcount (persons) 9,046 4,812 1,462 680 274 470 775 5,040 11 5 14 (3) 65 (1) 74 9 10,070 5,068 1,664 659 453 465 1,345 5,510 14-18 10-14 14-19 0-(5) > 40 ~ Flat 35-40 8-12 Results - Actual vs. Target 1H 2001 Results

30. Analyst Meeting : August 20, 2001 30 Foreign exchange risk exposure will be reduced through:  Prepayment of loans  Currency swap  Local debenture Capex funded by internal cash flows policy Committed to enhance corporate governance International standard of disclosure via IAS Financial Risk Reduction Strategy

31. Analyst Meeting : August 20, 2001 31 Summary

32. Analyst Meeting : August 20, 2001 32 Summary 1. Capacity utilization 2. Need to expand into new area of revenue/data & broadband (including wholesales) 3. Need to aggregate and bring customers and contents together in order to increase usage and, thus, ARPU 4. Ability to offer and deliver access solutions to customers by segments 5. Nationwide network solution capability 6. BKK market 7. Voice market will be very competitive. There will be more overlapping among wireless and wireline. However, the market will be expanding. What we need to ensure is for among the operators to understand and share the sense of not to destroy the market value Revenue

33. Analyst Meeting : August 20, 2001 33 Summary 1. Lower debt (USD), Improve Debt/Equity ratio 2. Expand EBITDA 3. Push for formation of NTC and concession conversion 4. Tariff rebalancing 5. Successful launch / 1m. subs. 6. Maximize synergistic value between TA and CPO Financial Regulatory CPO

34. Analyst Meeting : August 20, 2001 34 From Product Focus to Customer Focus Product Offering Broadband Access Data / Internet ATM / IP Network Wireless Wholesales / Outsourcing Services Nationwide Broadband Backbone Network Access Solution Provider Wholesales Application and Content aggregator CurrentTransitionFuture VAS POTs PCT International Call Public Phone Digital Data Network Value Added Services Platform Integration Solution Provider Summary

35. Analyst Meeting : August 20, 2001 35 Thank You

36. Analyst Meeting : August 20, 2001 36 “Safe Harbor” Statement This presentation contains statements about expected future events and financial results that are forward-looking and subject to risks and uncertainties. Undue reliance should therefore not be placed on said forward-looking statements, which speak only as of the date hereof. Factors which may affect future results of the Company are discussed in our recent filings with the Securities and Exchange Commission.