PROSPECTUS THAI BEVERAGE PUBLIC COMPANY LIMITED ...

Part 2 Issuing CompanyThai Beverage Public Company Limitedweather and natural disasters could adversely affect the Company’s productivity, profitability andoperations as a whole. On September 30, 2008, ThaiBev sold all shares in Thai Alcohol Plc., aproducer of industrial alcohol.Any disruption to the operation of the Company’s existing production facilities due to any ofthe foregoing risks could adversely affect its business, financial condition, results of operations andprospects. In addition, many of these operating and other risks may cause personal injury and loss oflife, severe damage to or destruction of property and equipment and environmental damage, and mayresult in suspension of the Company’s operations and the imposition of civil or criminal penalties.Losses incurred or payments required to be made by the Company as a result of these or otherfactors may exceed the Company’s insurance coverage, which could adversely affect its business,financial condition, results of operations and prospects.1.1.18 The public opposition to the listing of shares in ThaiBev shares on the SET may causeprotest against, legal filling or boycott of its products, which may affect its business,financial condition, results of operations and prospect.The listing of ThaiBev on the SET brings about a degree of public opposition since somepeople conceive that the Company’s products may affect children, cause driving accidents and affectThai culture and society as a whole. For example, some protests against the listing of ThaiBev shareson the SET accusing the Company’s business of being contrary to Thai morality, culture and society.These protests adversely affect the Company and its products, and such public opinion may affect theCompany’s operation and development in the future. Additionally, further protests may occur in thefuture relating to ThaiBev’s products. The Company may be sued on the grounds of its products arethe cause of ill-health or there may be a boycott of its products, which may adversely affect itsbusiness, financial condition, results of operations and prospectus.1.1.19 Anti-monopoly legislation enacted by Thailand in 1999 may adversely affect the Company’sbusiness, financial condition, results of operations and prospects.The Thai Trade Competition Act of 1999 (the “TCA”) prohibits various anti-competitivepractices and empowers the Thai Trade Competition Commission (the “TTCC”) to order a companythat dominates a market and has market share of more than 75.0% to suspend, cease, or vary itsmarket share. In addition, under the TCA, the TTCC has the power to issue written orders to require acompany that has engaged in unfair business practices to suspend, cease, rectify or vary its businesspractices. On January 18, 2007, the TTCC issued an announcement setting two criteria to determine amonopoly, which are 1) such person must have a market share of any particular product or service of50.0% or more and have a sale volume of such product or service of Baht one billion or more in theprevious fiscal year or 2) such person must be one of the top three operators in any particular productor service market who has a market share of 75.0% or more and one of the top three operators musthave a sale volume of such particular product or service of Baht one billion or more in the previousfiscal year. If a monopoly acts unfairly, such as fixing an unfair price or determining an unfaircondition, the TTCC has the power under the TCA to order such monopoly to suspend, cease or varysuch action. Because the Company is one of the largest beer and spirits producers in Thailand and hasa high market share in Thailand for many of its products, the Company may, from time to time, besubject to litigation from competitors and others for alleged violations of these provisions.Consequently, the TCA and any regulations promulgated under it could have an adverse effect on thebusiness, financial condition, results of operations and prospects of the Company.Part 2 Page 11