PROSPECTUS THAI BEVERAGE PUBLIC COMPANY LIMITED ...

Part 2 Issuing CompanyThai Beverage Public Company LimitedSubsidiariesNature of BusinessShareholdingPercentageVitayathan Co. Environmental preservation promotion 100.0 (8)Pan Alcohol Co.Production/distribution of vinegar(ceased to operate)100.0 (9)Muangkij Co. Import of oak woods (ceased to operate) 100.0 (10)Sura Piset Sahasan Co. Production of spirits (ceased to operate) 100.0 (11)Thai Thum Distillery Co. Distribution of spirits (ceased to operate) 99.9 (12)Sura Piset Sampan Co. Production of spirits (ceased to operate) 100.0 (13)(11) Overseas Businesses GroupSubsidiariesInternational Beverage HoldingsLimitedNature of BusinessShareholdingPercentageForeign holding company 100.0InterBev (Singapore) Limited Distribution of alcoholic beverages 100.0 (14)InterBev Malaysia Sdn. Bhd. Distribution of alcoholic beverages 100.0 (14)InterBev (Cambodia) Co., Ltd. Distribution of alcoholic beverages 100.0 (14)Best Spirits Company Limited Distribution of alcoholic beverages 100.0 (14)International Beverage Holdings(UK) Limited**Internatinal Beverage HoldingsLimited USA Inc.*Foreign holding company 100.0 (14)Distribution of alcoholic beverages 100.0 (15)Blairmhor Limited Production and distribution of spirits 100.0 (15)Inver House Distillers Limited Production and distribution of spirits 100.0 (16)(8)(9)(10)(11)(12)(13)(14)(15)(16)The shares of Vitayathan Co. are held by Beer Thai Plc. and other Subsidiaries of ThaiBev in the amountequaling 100.0%The shares of Pan Alcohol Co. are held by Red Bull Co. and other Subsidiaries of ThaiBev in the amountequaling 100.0%The shares of Muangkij Co. are held by Pan International Co. and other Subsidiaries of ThaiBev in theamount equaling 100.0%The shares of Sura Piset Sahasan Co. are held by Sura Piset Phatra Lanna Co. and other Subsidiaries ofThaiBev in the amount equaling 100.0%The shares of Thai Thum Distillery Co. are held by Thai Cooperage Co. and other Subsidiaries of ThaiBev inthe amount equaling 99.9%The shares of Sura Piset Sampan Co. are held by Thai Cooperage Co. and other Subsidiaries of ThaiBev inthe amount equaling 100.0%The shares of these companies are held by IBHL.The shares of this company are held by International Beverage Holdings (UK) Limited.The shares of this company are held by Blairmhor Limited.Part 2 Page 22