I have audited the accompanying consolidated and company balance sheets of The Post Publishing Public Company Limited as at 31 December 2000 and 1999, and the related consolidated and company statements of income, changes in shareholders' equity, retained earnings and cash flows for the years then ended. These financial statements are the responsibility of the Company's management. My responsibility is to express an opinion on these financial statements based on my audits.

I conducted my audits in accordance with generally accepted auditing standards. Those standards require that I plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. I believe that my audits provide a reasonable basis for my opinion.

In my opinion, the consolidated and company financial statements referred to above present fairly, in all material respects, the consolidated and company financial position of The Post Publishing Public Company Limited as at 31 December 2000 and 1999 and the consolidated and company results of operations and cash flows for the years then ended in accordance with generally accepted accounting principles.

As set out in Note 3 to the consolidated and company financial statements, in the year 2000, the Group has changed its accounting policy in respect of accounting for joint venture. The Group has accounted for this change retrospectively. Accordingly the consolidated and company financial statements for the year ended 31 December 1999 have been restated to reflect the change in accounting policy.

SOMSRI DHANYACHEEVEE

Certified Public Accountant
(Thailand) No. 1905
PricewaterhouseCoopers ABAS Limited

Bangkok
2 February 2001