To: The Shareholders of The Post Publishing Public Company Limited

The Audit Committee of The Post Publishing Public Company Limited comprises three Committee members who are independent directors, namely Dr. Siri Ganjarerndee, Chairman of the Audit Committee, Mr. Pichai Vasnasong, and Mr. John Thompson. Mrs. Chantana Suebsin, Chief Audit Executive, serves as Secretary of the Committee.

The Audit Committee performed its duties as empowered by the Board in accordance with the requirements of The Stock Exchange of Thailand and the Principles of Good Corporate Governance. During the year 2005, the Committee held four official meetings to review the quarterly and annual financial statements and discuss matters arising there from with management.

The Committee advised that progress was made in the implementation of the Company's Good Corporate Governance Policy and Risk Management Policy. With regard to the latter, the Company has, in cooperation with other companies, undertaken a study of the potential impact of a bird flu epidemic. The Company has also taken steps to advise staff how to avoid coming into contact with contaminated birds, chickens and fowls, and how to avoid the risk of contamination from meat or eggs.

The Committee reviewed the Annual Financial Statements for the year 2005, based on the information provided to the Committee. Preparation of the related statements complies in all material respects, in accordance with generally accepted accounting principles and with
the requirements of the various Acts governing disclosure and reporting of financial statements. The Audit Committee therefore recommends that the Board presents the Consolidated and Company Financial Statements for the year ended 31 December 2005 to the Shareholders for
their approval.

The Committee has reviewed and approved the scope of work and the audit plan for the Internal Audit Division, and has also reviewed its reports and recommendations. Progress with implementations of the recommendations of the Internal Audit Division has been monitored on a regular basis.

The Committee, in collaboration with both the internal auditors and the external auditors, reviewed the efficiency and adequacy of the Company's internal controls. In the Committee's opinion, overall controls were generally appropriate for the current business operations.

The Committee considered the engagement of the external auditor for the Company's accounting period ended 31 December 2006, and recommended that the Board proposes to Shareholders that Ms. Saifon Inkaew, Certified Public Accountant (Thailand) No. 4434, and/or Mr. Ruth Chaowanagawi, Certified Public Accountant (Thailand) No. 3247, and/or Mr. Sophon Permsirivallop, Certified Public Accountant (Thailand) No. 3182 of Ernst & Young Office Limited be appointed as the Company's auditors. The Committee also considered the proposed audit fee for the year 2006, taking into account the workload and the inflation rate. The proposed audit fee is deemed reasonable.

Attendance Record of Audit Committee Members for the year 2005 is as follows: