March 2011

Introduction & Key GrowthDrivers

Thanachart Securities

59%70%

100%

100% 100%

TECH RELATEDBUSINESS

60%70%

Mobile multimediaICT Solutions & Services

Security solutions TV/Satellite antenna manuf Call Center Waste Mgt@ new airport

Air Traffic Mgt Power plant 23 MW

SAMART Inter Holding

100%

100%

Business Structure

4,300 mill shares (par Bt. 0.10/share)Mkt cap = $ 266 mill

601 mill sharesMkt cap = $ 228 mill

Listed in 1993977 mill shares

Market cap = USD 280 mill

Unlisted business valued at Book = USD 45 millor Baht 1.40/share (as of Sep 30, 2010)

* Market cap based on price of stocks & THB/USD rate as of 14th Feb 2011

2008 2009 9M-2010

Total Profit 261 455 485

Contribution by :

SIM 25% 15% 14%SAMTEL 29% 47% 60%Other Biz 46% 38% 26%

3

Revenue & NP Breakdown by Businesses

2008 2009 9M-2010

Total Revenue 16,286 17,305 12,619

Contribution by :

SIM 70% 52% 51%SAMTEL 18% 36% 36%Other Biz 12% 12% 13%

(in Baht million)

Increasing contributionfrom Samtel

Unlisted Business

Samart Inter Holding

- Monopoly Concession to manage Nationwide Air Tarffictill year 2033

- Tariff collection from airlines (inbound & over flights)

(In kingdom of Cambodia)

477465000051876

41678

48630 242323

20

18

0

10000

20000

30000

40000

50000

60000

2006 (A) 2007 (A) 2008 (A) 2009 (A) 2010 (A)0

5

10

15

20

25

30

Flights Revenue ($ mill)

Strategy:

Explore similar investment opportunities in Indo-China region

- 9% CAGR for flights in past 10 yrs- Concession allows 5% tariff increase every 5 yr- EBITDA margins are maintained at 47%-50% for 10 yrs

Samart Inter Holding

- USD 6 mill/year in revenue guaranteed per year- Fuel is supplied by off taker- EBITDA margins of 50%

Strategy:

Explore opportunities in utilities sector in Kingdom of Cambodia

Kampot

Kingdom of Cambodia - 16 MWe contracted capacity beginning 2008 till 2017- Off taker is Kampot Cement (Owned by Siam Cement)

Outsource

Call Center

Government Private Sector

• ICT(����������� ������)

• Transportation(���.)

• TAT(ก ����������)

• MEA(���� �������)

• PEA(���� �� !� �)

• MOTC (� � � )

• MOC (" #!$�%)

• MOPH (� & �#�'�)

• MOL (��� �)

• MOI( � (���)

• MOF(ก ���)�)

• Bank

• Insurance

• Financial Firm

• Automobile

• PTT

• Microsoft

• HP/IBM

Customers

511

605

8901000

0

100

200

300

400

500

600

700

800

900

1000

2008 (a) 2009 (a) 2010 (est) 2011 (f)

20% CAGR

Revenues

Financials

ServicesFully outsourced 37% of total revenuesTurnkey 60% of total revenuesTraining 1% of total revenuesTelemarketing 2% of total revenues

One to One Contacts Co., Ltd.

One to One Contact CenterNature of business: Fully outsourced and turnkey call centerClients: 70% government, 30% private sectorProject on hand (as of Nov 2010): Baht 1000 million

Revenue drivers: Business Process Outsourcing contacts, call center contracts

Value unlock: Exploring possible listing in MAI

(Baht mill)

# 1. Independent Call Center

Vision & Security System

Turnkey security solutions:

Customers:- Government Center- Bangkok Metropolitan Authority- Airport of Thailand (AOT)- Telephone Organization of Thailand (TOT)

73

191

328

500

0

50

100

150

200

250

300

350

400

450

500

2008 (a) 2009 (a) 2010 (est) 2011 (f)

65% CAGR

Revenues

(Baht mill)

Potential Opportunities 2011:

- CTX Scanners @ Suvarnabhumi Airport- Govt Center Phase II @ Bangkok- Chonburi Province Government

Project value over Baht 1,000 mill

Nature of Business: Provide security solutions

Samart I-Mobile PCL

SAMART i-Mobile Plc.

Samart i-Mobile PlcSamart i-Mobile Plc

Mobile BusinessMobile Business Content BusinessContent Business MVNOMVNO

• No.1 brand share • No.1 Content Aggregator

• No.1 distributor share

• Pioneer 3G telecom provider

Domestic market

International market

• ASIA Handheld device provider

Vision “To be the leading Thai telecom services company in the region providing

integrated telecom service, portable multimedia device, content

11

“Theme: Devices, applications, services based on Mobility concept delivering enriched lifestyle experience to the end users”

Leveraging Strengths

� Total 40 i-mobile handset models to be launchedin 2011

i-Trip• Hit Hotel

• Weather

i-Music• Ringtone

• Full Song

i-Clip• Wallpaper

• VDO Clip

i-Movie• Movie Detail

• Show Time

i-Horo• Gypsy

• Birthday

• Etc.

i-Game• Adventure,etc

• Multiplayer

i-Food• Hit Restaurant

• Search

i-Sport• Football, etc.

• Match/Result

i-News• Local

• International

i-Promotion• Discount

• Rewards

• Privileges

i-Lotto• Result

• Analysis

i-Application• Stock watch

• Biz info

Device Applications

M-Commerce Application

Air Asia

Product Positioning to Meet Market Demand

New 3G network, New devices:

USB Modem

2G + 3G

3G ANDROID

Featured Phone

• New Products to support Content, thus creating a revenue stream

• Data usage shall led to more ARPU for MVNO as well as traditional operators

Concept Phone: Smart feature

Smart phone & 3G device:

Handheld as carrier for Content & MVNO Business

Key Benefits:

i-Note

Push SNSIMM SNS Game

No.1 brand share in Thailand

2,780,0113,027,904

3,498,804 3,500,000

353,062700,000

518,6131,258,130

0

500,000

1,000,000

1,500,000

2,000,000

2,500,000

3,000,000

3,500,000

4,000,000

4,500,000

2008 2009 2010 (Est) 2011 (f)

13

4,038,191

3,546,517 3,851,866 4,200,000

14.00%

13.96%

12.80%

14.00%

3,200,000

3,400,000

3,600,000

3,800,000

4,000,000

4,200,000

4,400,000

2008 2009 2010 (Est) 2011 (f )

12%

13%

13%

14%

14%

15%

Total Handsets Sales & Gross Margins

Handset Sales & Margins: 3G and replacement market to drive the sales

Handset sales: Domestic vs Inter

Inter

Domestic

- Handset sales growth = 10% (by volume)- Indonesian handset sales to grow the most- Margin trend is likely to be sustained in the neighborhood of 12-14% in 2012- Estimated market share in 2012 = 28%-30%

New 3G network, Advanced content & application:

Voice and Conventional VAS 3G Advanced VDO & Application service

Key positioning: Content & Applications as key drivers of 3G Business

• Higher ARPU

Benefits:

Call Directory service

Sport

Lifestyle

VDO Call Center VDO Horo & Consult

Live SportStreaming

Live News Reporter

Music VDOStreaming

Entertainment

News

Develop to 3GAdvanced Service

Continue 2GService

Recurring Revenue on 2G Network with subscription service

EDT GuideApplication

eMagazine

Content Business: Big potential from 3G

15

Content Business: Big potential from 3G

Directory

Main Revenue Stream

Alert &Subscription

Recurring Revenue

HoroscopeSportInformation

Main Revenue Stream

Download15%

Sport36%

Consultancy1%Chat

7%

Horoscope10%

Information11%

Voting & TVC Service

3%

Entertainment

4%

Game13%

Bug 1900 categories

16

Transition: From Trading to Services

Device

Applications

DistributionNetwork

Call Center

Brand

SIM is in the best position to leverage its strengths and migrate its business model to MVNO services platform

MVNO Growth Drivers

Status

Nature of business: Mobile Virtual Network OperatorSubscribers: 125,000 (as of Dec 2010) ARPU = 180 baht/subExpected sub by end 2011: 300,000

Revenue drivers: Upon TOT’s nationwide 3G rollout, i-mobile 3GX to become asingle largest MVNO

Targeting 2,000,000 subscribers with ARPU of 300 2012-13

Possible cooperation from Axiata (Telekom Malaysia)International Roaming revenues

2010 20122011

• 3,000 Base Stations• Capacity 4 M Subs

• 5,220 Base Stations• Capacity 8 M Subs• 42 Mbps / 11 Mbps

• 550 Base Stations• Capacity 500K Subs• 7.2 Mbps / 1.6 Mbps

Network rollout plan

Benefits of full MVNO:

• Self-control: Roaming, I/C, Number

• Differentiate: Tariff plan, VAS, QOS Management

A Greater scope to excel as TOT rolls out nationwide 3G network

• Wholesale capability: Able to resell the service

platform to MVNO/ Reseller

• Subscriber ownership

New 3G network :

Full MVNO

3) Sell to sub MVNO / Branded reseller

1) Existing customer database of i-mobile handset: Approx. 3.5 Millions of mobile handset sold / year

2) Good relationship with Government / State Enterprise / Big corporate: Soldier / Police / Teacher / PEA / Bank etc.

MVNO Business

Business Synergy

MobileBusiness

MobileBusiness

ContentBusiness

ContentBusiness

MVNOBusiness

MVNOBusiness

Embed Content

& application

VAS Offering

Sub AcquisitionVDO Call center

Strengthen and Fulfill Business Position in Telecom industry by Synergy of essential factors

Terminal Device + Telecom Service + Content and Application

i-Link

IMM

Push SNS

Dual SIM 2G+3G

eBook

2G

3G

Bundling Package

Revenue Streamof 3G VAS

3G VAS

Content &Application Portal

321

114 115 109

0

50

100

150

200

250

300

350

2007 2008 2009 9M-2010

8,857

6,753 6,293

4,425

5,300

3,183

1,661

1,094

662

730

800

698

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

2007 2008 2009 9M-2010

Content

International

Domestic

20

Revenue/NP/Dividend history

0.062

0.045

0.0283%

169%

75%

0

0.01

0.02

0.03

0.04

0.05

0.06

0.07

2007 2008 2009

0%

20%

40%

60%

80%

100%

120%

140%

160%

180%

Revenues Revenue breakdown by segment

Net Profit Dividend & Payout Ratio

(all figures in baht million, except for dividend))

15,434

11,398

9,039

6,365

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

2007 2008 2009 9M-10

Samart Telcoms PCL

Netw ork Service, 42%

System Integration, 25%

IT Outsourcing, 16%

IP Business, 12%

E-Business, 5%

Government, 93%

Corporate, 7%

Government, 87%

Corporate, 13%

Samtel Revenue: Govt. Clients Dominate

20092008

Netw ork Service, 80%

System Integration, 13%

IT Outsourcing, 3%

IP Business, 2%

E-Business, 2%

System Integration

Key Project Highlights (Completed )

Ministry of InteriorInformation Super High WayLinking all provincial offices in Thailand (Baht 1,000 mill)

ITV MobileTV Broadcasting Station

Department of Industrial WorksComputer network systems for supporting services

Suvarnabhumi AirportDesign & Installation of Airport Information Management System (AIMS) in Consortiumwith Siemens, ABB, & Satyam (Project Value Baht 2,399 mill)

Suvarnabhumi AirportCommon User Terminal Equipment System (CUTE)(Project Value THB 2,000 mill)

Ministry of DefenseCommunication network System(Baht 799 mill)

Samart Telcoms PCL: Growth Drivers

StatusProjects on hand

Total project backlog as of Sept 30, 2010 is Baht 5,000 million9M-10 Revenue = Baht 4,500 mill

Installation & Maintenance Contracts TOT

Project: TOT 3G network installation nationwide Value: Baht 16,290 millMaintenance p.a.: Approximately Baht 800 mill p.a.(5 yr)

Project: Next Generation Networks “NGN”Value: Baht 14,000 mill

Installation & Maintenance Contracts CAT

Project: Trunk Mobile Baht 450 mill, USO Baht 1,000 mill

Won “e” auction on Jan 28Expected contract signing21st FebDuration rollout : 12-15 monthsSamtel Portion: 10 bn

Samart Telcoms PCL

StatusIT Outsourcing ContractsProject: Automatic Meter PEA, MEAValue Baht 1,500 mill

Project: CUTE Counter Check in Services (Other airports incl Makkasan)

Project: Extension of School Net Project (Baht 40 mill/month)Tenure 1.5 years per term

System Integration Projects

Project: Various, including network design, installation, etc.Nature: Turnkey (approximately completion within 12-18 months)Clients: Ministry of Interior

Ministry of DefenseSupreme Commander HQMinistry of JusticeTOT , CAT, PEA, MEA

Revenue per yr: Baht 2,000 million per year

Samart Telcoms PCL

Status“E” ticketProject: Set up and own “E” ticket platform for public transportation Value Baht 1,200 mill

Target: Public bus, BTS, BMCL, customers

RFID @ Airport (Q1-11)

Project: Set up and own RFID tags & readers at international airportTenure: 5 yrsValue: Baht 2,500 mill - 3,000 mill

Department of Land (Q2-11)

Project: Set up “e” title system for land deeds nationwideTenure: 3 yrsValue: Baht 10,000 mill

Revenue/NP/Dividend history

991

1,710

4,844 3,609

1,156

1,186

9021,348

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2007 2008 2009 9M-2010

Service Revenue

Product Revenue

2,177

2,900

6,216

4,511

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

2007 2008 2009 9M-2010

111112

292302

0

50

100

150

200

250

300

350

2007 2008 2009 9M-2010

Revenues Revenue breakdown by segment

Net Profit Dividend & Payout Ratio

(all figures in baht million, except for dividend))

0.10

0.25

0.100.10

30%

51%55%55%

0

0.05

0.1

0.15

0.2

0.25

0.3

2007 2008 2009 2010

0%

10%

20%

30%

40%

50%

60%

New Business Opportunities

- Attractive opportunities in Transportation sector (over next 24 months)

- Singling (back bone of mass transit)- Common ticketing- Signaling system for State Railway of Thailand- NGV Bus for BMTA- Rail projects from State Railway of Thailand- Monorail link for new terminal at Suvarnabhumi Airport- Rooftop solar installations (domestic use)

Brief Description: Proposed Projects

Consolidated Financials

15,43411,119

8,754 6,216

2,8352,117

4,4426,193

2,098 1,7012,0921,901

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2007 2008 2009 9M-2010

Related Business

ICT Solutions (Samtel)

Mobile Multimedia (SIM)

Consolidated Financials

19,649

12,619

17,30516,286

0

5,000

10,000

15,000

20,000

25,000

2007 2008 2009 9M-2010

RevenuesRevenue breakdown by segment

Dividend Payout

(all figures in baht million, except for dividend))

261

574

485455

0

100

200

300

400

500

600

700

2007 2008 2009 9M-2010

Net Profit

0.150.25

0.2

0.36

30%

53%

74%61%

0

0.05

0.1

0.15

0.2

0.25

0.3

0.35

0.4

2007 2008 2009 9M-10

0%

10%

20%

30%

40%

50%

60%

70%

80%

Summary

- Maintain a healthy backlog of ICT projects under SAMTEL- Transform SIM from a trading business to a service based business - Successfully develop new projects under transportation sector- Company shall seek internal cash flows/project financing to finance these projects

- Revenue Guidance for 2011

- Samart Corp (Consolidated) +40%-45%- SAMTEL (incl TOT 3G) +120%-150%- SIM +10%-15%