Thai Beverage Public Company Limited announced that it has incorporated a new wholly-owned subsidiary, ThaiBev HC Development Co. Ltd., in Thailand. THBEV holds 99.999% in ThaiBev HC Development while one other shareholder holds one share.

ThaiBev HC Development has a registered capital of THB 1,000,000 consisting of 100,000 ordinary shares with a par value of THB 10. ThaiBev HC Development will be principally engaged in providing human resource services, including human resource management, planning and training. The aforesaid investment was funded through internally generated funds and is not expected to have any material impact on the earnings per share and net tangible assets of THBEV for this financial year.

To the best knowledge of the directors of THBEV (the "Directors"), neither of the Directors nor substantial shareholders of THBEV have any direct or indirect interest (other than through their respective shareholdings in THBEV), in the aforesaid transaction.