25 February 2008 The President The Stock Exchange of Thailand Bangkok Dear Sir, Re: Change in Accounting Policy Berli Jucker Public Company Limited would like to notify that, starting from 1 January 2007, the Company has changed its accounting policy for investments in subsidiary companies and associate companies in its financial statements from the equity method to the cost method. The change in accounting policy has been applied retrospectively and the Company's 2006 financial statements, which are included in the separate financial statements for the period ended 31 December 2007 for comparative purposes, have been restated accordingly. The effects of the change in accounting policy on the Company's annual 2007 and 2006 financial statements are as per statements attached. Please be informed accordingly. Yours faithfully, Berli Jucker Public Company Limited Aswin Tachajareonvikul Thirasakdi Nathikanchanalab Director Director Attachment Separate financial statements 2007 2006 (in thousand Baht) Investments in subsidiaries and associates Balance at 1 January before change in accounting policy 7,372,314 7,215,495 Decrease in retained earnings (2,000,931) (1,844,471) Decrease in hedging reserve 14,250 6,013 Decrease in Company shares held by a subsidiary 40,455 40,455 Net decrease (1,946,226) (1,798,003) Balance at 1 January after changes in accounting policy 5,426,088 5,417,494 Retained earnings Balance at 1 January before change in accounting policy 3,047,942 2,729,841 Decrease in share of profits from investments accounted for using the equity method, net (1,915,193) (1,799,164) Increase in impairment of investment (10,000) (10,000) Increase in allowance for doubtful account of loans to related parties (65,739) (32,699) Increase in deferred tax asset 22,722 11,420 Increase in other income 32 4,631 Net decrease (1,968,178) (1,825,812) Balance at 1 January after changes in accounting policy 1,079,764 904,029 Net profit Net profit for the year before change in accounting policy 1,254,656 988,545 Increase in dividend income from subsidiaries 1,144,323 332,244 Decrease in share of profits from investments accounted for using the equity method, net (979,120) (574,145) Increase in other income 63,187 6,630 Increase in selling and administrative expenses (98,043) (32,999) Decrease in income tax 41,318 11,301 Net increase (decrease) 171,665 (256,969) Net profit for the year after change in accounting policy 1,426,321 731,576 Increase (decrease) in earnings per share (Baht) 0.11 (0.16)