News

Report On The Results Of Warrant Conversion To Common Shares

(Translation)
Ref: SiS 48/007

Date   March 31, 2006

Subject: Report on the results of the exercise of warrants (ESOP) in March 2006

To:          President
         The Stock Exchange of Thailand

SiS Distribution (Thailand) Public Company Limited (the Company) has issued,
under an Employee Stock Option Program, 5-year maturity 5,000,000 warrants with
no offering price. Each warrant is entitled to buy 1.00 common share of the
company at the book value per share from the latest financial statement before
the date of exercise, which is Baht 2.45. The warrants can be exercised every
three months from the first exercise date which is June 30, 2005 until the last
exercise date which is June 9, 2009. The exercise date will be the last business
day of March, June, September and December of each year. During the fourth
exercising date, warrant holders can inform their exercise from March 27-30,
2006 as a result follows:

              Number of exercising warrant holders               3 persons
              Number of allotted warrant holders               191 persons

              Number of outstanding unexercising warrants  4,143,700 units
              Number of exercising warrants                  625,000 units
              Number of remainging unexercising warrants   3,518,700 units

              Number of outstanding ordinary shares reserved for warrants
4,143,700 units
              Number of allotted common shares from this exercise
625,000 units
             Number of remaining ordinary shares reserved for warrants
3,518,700 units

As a result, the company's issued and paid-up capital has increased from Baht
200,856,300 to Baht 201,481,300.

Please be informed accordingly,

Yours faithfully,



Somchai Sittichaisrichart
Managing Director