Stabilising Action in relation to the Initial Public Offering ("Offering") of Thai Beverage Public Company Limited ("Company")

Pursuant to Regulation 3(14) of the Securities and Futures (Market Conduct) (Exemptions) Regulations 2006, we, the stabilising manager in respect of the Offering, hereby announce that we have, either as principal or through dealers on our behalf, to date purchased a total of 67,760,000 shares of the Company ("Shares") and have ceased price stabilisation action as of 5.05p.m. on 28 June 2006.

In this respect, the over-allotment option granted by the Company to us has been exercised partially, in respect of 665,575,000 Shares, solely for the purposes of covering the balance of the 733,335,000 Shares which had been over-allotted in connection with the Offering, and which were not covered by purchases made under the price stabilising action.


For and on Behalf of
J.P. Morgan (S.E.A.) Limited

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