PROSPECTUS THAI BEVERAGE PUBLIC COMPANY LIMITED ...

Part 2 Issuing CompanyThai Beverage Public Company Limited3. Overview of Business Operations3.1 Nature of Operations3.1.1 The Company’s ProductsThe Company produces beer, spirits, non-alcoholic beverages and by-products from thebrewing and distilling process. In 2007, the Company’s aggregate beer and spirits sales volumesaccounted for almost all of the Company’s revenue from sales.The following table sets forth the breakdown of revenue by segments for beer, spirits, nonalcoholicbeverages, industrial alcohol, related businesses and the intersegment eliminations forintersegment as a percentage of the Company’s revenue from sales for the periods indicated:Unit: Percentage of revenue from sales2005 2006(beforerestated)Year Ended December 31,2006(afterrestated)Six-Month PeriodEnded June 30,2007 2008Beer:Beer .............................................. 42.6 46.1 46.1 46.5 41.6Drinking water.............................. 0.2 0.2 0.2 0.2 -Soda water .................................... 0.2 0.2 0.2 0.1 -Others (1) ........................................ 1.5 1.3 0.7 0.5 0.1Total beer................................... 44.5 47.7 47.1 47.3 41.6Spirits:White spirits.................................. 30.7 30.1 30.1 27.6 28.9Brown spirits ................................ 24.7 21.5 21.5 24.0 26.0Others ........................................... 0.3 1.0 1.2 1.0 1.4Total spirits................................ 55.6 52.6 52.7 52.7 56.2Non-alcoholic beverages:Energy drinks……………............ - - - - 0.3Drinking water………….............. - - - - 0.2Soda water………………. ........... - - - - 0.1Others……………………............ - - - - 0.1Total non-alcoholic- - - - 0.7beverages….Industrial alcohol (2) ......................... 0.9 1.2 1.2 1.0 1.5Related businesses .......................... 7.0 7.3 - - -Intersegment eliminations............... (8.1) (8.8) (1.1) (0.9) (0.1)Total......................................... 100.0 100.0 100.0 100.0 100.0__________(1) Others include sales of used bottles, which the Company purchases from its distributors and sell them to third partiesand related businesses.(2) In September 2008, ThaiBev sold all the shares of Thai Alcohol Plc., a producer of industrial alcohol.Part 2 Page 34