May 21, 2008
Notice Of A Change In The Percentage Level Of A Substantial Shareholder's Interest

Part I
1. Date of notice to issuer 21/05/2008
2. Name of Substantial Shareholder Golden Capital (Singapore) Limited
3. Notice Type Notice of a Change in the Percentage Level of a Substantial Shareholder's Interest or Cessation of Interest.
Part II - Not Required
Part III
1. Date of change of Interest 20/05/2008
2. The change in the percentage level From 2.76 % To 2.76 %
3. Circumstance(s) giving rise to the interest or change in interest Open Market Purchase

Before changing, Golden Capital (Singapore) Limited ("GC") has 2.76% direct interest in Thai Beverage Public Company Limited ("THBEV").

On 20/5/2008, GC purchased 2,000,000 THBEV shares from open market at SGD 0.2600 per share, resulting in its direct interest in THBEV remaining at 2.76%.

Mr. Charoen Sirivadhanabhakdi and Khunying Wanna Sirivadhanabhakdi have deemed interests in THBEV through MM Group Limited through GC.
4. A statement of whether the change in the percentage level is the result of a transaction or a series of transactions: The change in the percentage level is the result of a transaction described above.
Part IV
1. Holdings of Substantial Shareholder, including direct and deemed interest :
 
  Direct Deemed
No. of shares held before the change 692,000,000 0
As a percentage of issued share capital 2.76 % 0 %
No. of shares held after the change 694,000,000 0
As a percentage of issued share capital 2.76 % 0 %