SAHAMITR PRESSURE CONTAINER PUBLIC  COMPANY LIMITED			
BALANCE SHEETS 									
AS AT JUNE 30, 2004 AND DECEMBER 31, 2003					
											
ASSETS										
								In Thousand Baht	
								June 30,		December 31,	
								2004		2003	
								"Unaudited"			
						Notes		"Reviewed"		"Audited"	
CURRENT ASSETS									
Cash and cash equivalents			5		                8,693 		                3,272 	
Accounts and notes receivable -  trade		6		            272,595 		            146,411 	
Inventories - net				7		            241,514 		            169,726 	
Refundable value - added tax 					              23,397 		                7,750 	
Refundable import duty						                8,201 		                  -   	
Current portion of loans to suppliers		8		               3,900 		               3,900 	
Other current assets						                4,818 		                4,805 	
Total Current Assets 						            563,118 		            335,864 	
											
NON - CURRENT ASSETS 								
Loans to suppliers and interest receivable - net 		8		            33,303 		              34,803 	
Receivable from and loans to related parties under 							
   guarantee's obligation - net			4		                  -   		                  -   	
Retention receivable						               1,532 		10,532 	
Restricted deposits with banks					     8,005 		          2,985 	
Property, plant and equipment - net					    474,726 		     483,686 	
Assets not used in operations - net 					   28,610 		28,610 	
Other non - current assets					  2,422 		     2,365 	
Total Non - Current Assets 					  548,598 		 562,981 	
											
TOTAL ASSETS 						    1,111,716 		           898,845 	

The accompanying notes form an integral part of these interim financial statements.		1	

SAHAMITR PRESSURE CONTAINER PUBLIC  COMPANY LIMITED				
BALANCE SHEETS 									
AS AT JUNE 30, 2004 AND DECEMBER 31, 2003						
											
LIABILITIES AND CAPITAL DEFICIENCY							
								In Thousand Baht	
								June 30,		December 31,	
								2004		2003	
								"Unaudited"			
						Notes		"Reviewed"		"Audited"	
CURRENT LIABILITIES								
Bank overdraft and loan from bank			9		          255,576 		         119,809 	
Accounts payable - trade						  198,644 		    137,257 	
Current portion of;									
   - Long - term loans under debt restructuring agreements	10		  76,749 		   67,354 	
   - Obligation under the guarantee of related company's liabilities	10		   21,740 		      18,666 	
   - Liabilities under financial leases			11		         919 		         2,190 	
Accrued commission						    10,639 		   10,036 	
Accrued transportation expense					    25,955 		         11,188 	
Other accrued expenses						  20,136 		        8,825 	
Other current liabilities						   15,727 		            7,813 	
Total Current Liabilities						     626,085 		383,138 	
											
NON - CURRENT LIABILITIES 								
Long - term loans under debt restructuring 							
   agreements - net  				10		  364,178 		         403,061 	
Obligation under the guarantee of related company's liabilities - net	10		    1,290,599 		    1,298,871 	
Liabilities under financial leases - net		11		        968 		          388 	
Total Non - Current Liabilities 					   1,655,745 		      1,702,320 	
											
TOTAL LIABILITIES						        2,281,830 		     2,085,458 	

The accompanying notes form an integral part of these interim financial statements.		                      2 	

SAHAMITR PRESSURE CONTAINER PUBLIC  COMPANY LIMITED			
BALANCE SHEETS 									
AS AT JUNE 30, 2004 AND DECEMBER 31, 2003							
											
LIABILITIES AND CAPITAL DEFICIENCY (CONTINUE)					
											
								In Thousand Baht	
								June 30,		December 31,	
								2004		2003	
								"Unaudited"			
						Notes		"Reviewed"		"Audited"	
CAPITAL DEFICIENCY									
Share capital - common shares, Baht 10 par value							
Authorized - 24,000,000 shares								
Issued and fully paid - up - 24,000,000 shares				    240,000 		240,000 	
Premium on share capital					      50,000 		     50,000 	
Revaluation increment in land not used in operations				            159 		           159 	
Retained earnings (Deficit)								
      - Appropriated for legal reserve					            983 		             983 	
      - Deficit 							      (1,461,256)		 (1,477,755)	
Capital Deficiency						  (1,170,114)		 (1,186,613)	
											
TOTAL LIABILITIES NET OF CAPITAL DEFICIENCY			    1,111,716 		  898,845 	

											

											

											
											
The accompanying notes form an integral part of these interim financial statements.		3	

SAHAMITR PRESSURE CONTAINER PUBLIC  COMPANY LIMITED		"Unaudited"	
STATEMENTS OF INCOME 								"Reviewed"	
FOR THE THREE - MONTH AND SIX - MONTH PERIODS ENDED JUNE 30, 2004 AND 2003		
														
							In Thousand Baht	
							Three - Month Periods ended June 30,		Six - Month Periods ended June 30,	
										
							2004		2003		2004		2003	
REVENUES													
Net sales						    522,331 		    294,878 		    960,806 		    715,359 	
Other income						         3,510 		         2,286 		         9,126 		         4,075 	
Total Revenues					    525,841 		    297,164 		    969,932 		    719,434 	
														
COSTS AND EXPENSES											
Cost of sales						    447,999 		    261,435 		    828,404 		    616,378 	
Selling and administrative expenses				      64,727 		      51,670 		    117,820 		    112,255 	
Directors' remuneration					              30 		              30 		              60 		              60 	
Total Costs and Expenses				    512,756 		    313,135 		    946,284 		    728,693 	
														
Income(Loss) Before Interest Expense and 
   Extraordinary Item	     
 13,085 		   
  (15,971)		
      23,648 		     
  (9,259)	
														
Interest expense					       (4,244)		       (2,268)		       (7,149)		       (3,840)	
														
Income (Loss) Before Extraordinary Item			         8,841 		     (18,239)		      16,499 		     (13,099)	
														
Extraordinary Item - Gain from debt repurchase	              -   		              -   		              -   		   6,974 	
													 	
NET INCOME (LOSS)					         8,841 		     (18,239)		      16,499 		       (6,125)	
														
Basic Earnings (Loss) per Share (Baht)										
Income (loss) before extraordinary item			           0.37 		         (0.76)		           0.69 		         (0.55)	
Extraordinary Item					              -   		              -   		              -   		           0.29 	
Net Income (loss)					           0.37 		         (0.76)		           0.69 		         (0.26)	

The accompanying notes form an integral part of these interim financial statements.				4	

SAHAMITR PRESSURE CONTAINER PUBLIC  COMPANY LIMITED							"Unaudited"	
STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY							"Reviewed"	
FOR THE SIX - MONTH PERIODS ENDED JUNE 30, 2004 AND 2003									
																
					In Thousand Baht 	
									Revaluation		Retained earnings (deficit)			
					Share Capital		Premium		Increment in 		Appropriated					
					 - Issued and 		on Share		Land Not Used		for Legal					
			Notes		Fully Paid Up		Capital		in Operations		Reserve		Deficit 		Total	
																
Balance as at January 1, 2003			         240,000 		              50,000 		                      159 		                 983 		        (190,219)		           100,923 	
Net loss for the period			                -   		                -   		                -   		                -   		           (6,125)		          (6,125)	
Balance as at June 30, 2003			          240,000 		           50,000 		                    159 		              983 		     (196,344)		             94,798 	
					 		 		 		 		 		 	
Balance as at January 1, 2004			          240,000 		             50,000 		                    159 		              983 		  (1,477,755)		 (1,186,613)	
Net income for the period			                -   		                -   		                -   		                -   		             16,499 		             16,499 	
Balance as at June 30, 2004			          240,000 		             50,000 		                    159 		               983 		     (1,461,256)		  (1,170,114)	

																
																
The accompanying notes form an integral part of these interim financial statements.							5	

SAHAMITR PRESSURE CONTAINER PUBLIC  COMPANY LIMITED		"Unaudited"	
STATEMENTS OF CASH FLOWS			"Reviewed"	
FOR THE SIX - MONTH PERIODS ENDED JUNE 30, 2004 AND 2003			
											
								In Thousand Baht	
								2004		2003	
Cash Flows from Operating Activities:				
Net income (loss)						        16,499 		  (6,125)	
Adjustments to reconcile net income (loss) to net cash				
   provided by (used in) operating activities:				
	Depreciation						       19,585 		     20,242 	
	Withholding tax written - off		                           503 		          168 	
	Unrealized loss on foreign exchange rate - net 	                           924 		          359 	
	Gain from debt repurchase					               -   		     (6,974)	
	Bad debt and provision for doubtful accounts	                           (24)		               -   	
	Gain from disposal of assets		(259)	               	               -   	
Cash provided from operating activities before changes in 					
   operating assets and liabilities		                     37,228 		   7,670 	
Decrease (increase) in Operating Assets:				
	Accounts and notes receivable -  trade	                 (125,368)		    38,716 	
	Inventories						       (71,788)		    (87,324)	
	Refundable value - added tax 	                   (15,647)		      (5,803)	
	Refundable import duty 					                      (8,201)		      (2,366)	
	Other current assets						            (516)		 (467)	
	Other non - current assets					                       8,943 		         4,447 	
Increase (decrease) in Operating Liabilities:				
	Accounts Payable  -  trade 					                     61,386 		         12,384 	
	Accrued commission						                602 		           (1,982)	
	Accrued transportation expense	                     14,767 		             (3,730)	
	Other accrued expenses					                     11,311 		         18,130 	
	Other current liabilities					                       7,671 		            (2,535)	
	Other non - current liabilities		               -   		    (1,167)	
Net Cash used in Operating Activities		(79,612)		      (24,027)	
											
The accompanying notes form an integral part of these interim financial statements.		           6 	

SAHAMITR PRESSURE CONTAINER PUBLIC  COMPANY LIMITED		"Unaudited"	
STATEMENTS OF CASH FLOWS						"Reviewed"	
FOR THE SIX - MONTH PERIODS ENDED JUNE 30, 2004 AND 2003			
									
								In Thousand Baht	
								2004		2003	
Cash Flows from Investing Activities:							
Increase in restricted deposits with bank				            (5,020)		                 (8)	
Proceed from disposal of assets				                 336 		               -   	
Acquisition of equipment and building improvements				        (9,671)		           (2,599)	
Decrease in loans to suppliers and interest receivable				             1,500 		           375 	
Decrease in receivable from and loans to related parties 					
   under guarantee's obligation				              24 		               -   	
Net Cash used in Investing Activities				 (12,831)		     (2,232)	
											
Cash Flows from Financing Activities:							
Increase in bank overdraft and loan from bank				       134,270 		         59,712 	
Repayment of long - term loan under debt restructuring agreements		        (29,487)		   (29,052)	
Payments of obligation under the guarantee of related 							
   company's liabilities				        (5,198)		               -   	
Repayment of liabilities under financial leases				          (1,721)		          (3,301)	
Net Cash provided by Financing Activities				          97,864 		     27,359 	
											
NET INCREASE IN CASH AND CASH EQUIVALENTS				           5,421 		           1,100 	
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD		         3,272 		      1,525 	
CASH AND CASH EQUIVALENTS AT END OF PERIOD		      8,693 		       2,625 	
											
Supplementary Disclosures for Cash Flows Information:					
1.   Cash paid during the periods :							
	  - Interest expense				         6,171 		            2,415 	
	  - Income tax						            503 		          168 	
2.   Non - cash transactions:							
	Purchase of vehicles under financial lease contract not included 				
	   in investing and financing activities.				         1,031 		               -   	
											
The accompanying notes form an integral part of these interim financial statements.		7