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Truemove H Is Trusted by 6 Financial Institutions, Collaborating to Issue Letters of Guarantee for 900 Mhz License, Worth Thb 73,036.06 Million

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Truemove H Is Trusted by 6 Financial Institutions, Collaborating to Issue Letters of Guarantee for 900 Mhz License, Worth Thb 73,036.06 Million TRUEMOVE H IS TRUSTED BY 6 FINANCIAL INSTITUTIONS, COLLABORATING TO ISSUE LETTERS OF GUARANTEE FOR 900 MHZ LICENSE, WORTH THB 73,036.06 MILLION Bangkok, March 1, 2016: True Move H Universal Communication (TUC) today holds an agreement signing ceremony with 6 financial institutions, comprising the Industrial and Commercial Bank of China (Thai) Plc – ICBC (Thai), Bangkok Bank Plc, Kasikornbank Plc, Siam Commercial Bank Plc, Krung Thai Bank Plc and Kiatnakin Bank Plc to secure letters of guarantee, worth a total of Baht 73,036.06 million, while nearly 50% of the amount of these letters of guarantee was provided by ICBC (Thai). The letters will be submitted with TUC’s first payment of Baht 8,040 million to the National Broadcasting and Telecommunication Commission (NBTC) for the 900-MHz frequency it won from the auction in December last year. Mr. Suphachai Chearavanont, President & CEO of True Group said “On behalf of True Group, I would like to thank the 6 financial institutions, especially a global player like ICBC (Thai), as well as Bangkok Bank, Kasikornbank, Siam Commercial Bank, Krung Thai Bank and Kiatnakin Bank for their trust in us. Their joint support will enable True Group to officially own and operate the frequency to the fullest of its capacity in order to more effectively meet market demand and strengthen Thailand’s telecommunications infrastructure with its world- class quality 4G services. True is determined to continually develop its superior communications network, supported by the largest amount of bandwidth and frequencies, comprising 900, 1800, 2100 and 850 MHz (under CAT Telecom) that support 4G, 3G and 2G technologies. This is another key milestone for True Group to maintain its leadership in wireless broadband Internet, strengthen its business operations and further support its mobile business, which experienced outstanding growth last year.” Dr. Zhigang Li, Chairman of the Board of Directors of ICBC (Thai), said “ICBC (Thai), a subsidiary of ICBC (Industrial and Commercial Bank of China), the world’s largest bank in terms of total assets and highest Tier 1 Capital, having more than 17,000 domestic institutions and 338 overseas institutions in six continents, has seen the growth potential of the telecommunications industry in Thailand, is confident in True’s commitment to lead in both 3G and 4G markets as well as the company’s determination to create new benchmarks for the industry, which will benefit in driving digital lifestyles of the Thai people. As the demand for mobile broadband in Thailand is expected to grow exponentially in the near future, we are confident that the acquired 900 MHz spectrum will help stabilize True’s revenue base and business fundamentals in the long run. As a lead arranger, providing nearly 50% of the total amount of the letters of guarantee for this transaction, ICBC (Thai) is ready to provide support to True Group, and is pleased to have five other commercial banks, comprising of Bangkok Bank Plc, Kasikornbank Plc, Siam Commercial Bank Plc, Krung Thai Bank Plc and Kiatnakin Bank Plc, as our allied partners for the syndication. The support from ICBC (Thai) and all participating banks will be a significant part in elevating Thailand’s telecommunications infrastructure to world-class standards.” Mr. Chansak Fuangfu, Bangkok Bank’s Executive Director and Senior Executive Vice President, said “Bangkok Bank is pleased and honored to take part in supporting True Move H Universal Communication by issuing the letter of guarantee on the payment for the 900 MHz license. We believe that the company will be able to achieve further success in expanding its mobile business and grow continually as per its set targets.” Mr. Teeranun Srihong, KASIKORNBANK President, said "KBank congratulates True Group for their acquisition of the 900 MHz frequency, which marks another significant milestone for both the Company and Thailand’s telecommunication industry as it is expected to stimulate the development and growth of not only the telecommunication, but also other related industries in the Internet of Things age, such as contents and applications, as well as mobile and electronic devices. True Group is considered as a key linkage that bolsters investment and develops the industry in a wide scope. The movement also enables the value chain of the industry to grow considerably through trade and investment connectivity among equipment suppliers, particularly those from China, small to medium enterprises and mobile operators. It will also contribute to national economic growth and value creation in the near future. KASIKORNBANK, as a commercial bank that operates its business under a digital banking concept and one of True Group’s partner banks, is ready to seamlessly drive and support True Group’s businesses towards further growth.” Mr. Arthid Nanthawithaya, Siam Commercial Bank’s CEO and Deputy Chairman of Executive Committee said "True Corporation’s recent successful bids for the new frequencies make it the only mobile operator with the greatest bandwidth of spectrums, and are considered the most important part in the history of the Company and the Thai telecommunications industry. It also reflects True Group’s determination and good intention to operate its business in line with the strategy that it has mapped out. Siam Commercial Bank would like to congratulate True Group on its success and looks forward to seeing True Group as the mobile operator with the greatest potential in the mobile broadband business, supported by its largest portfolio of frequencies. True Group will not only be able to deliver its best high- technology services to its customers, but it can also support in a timely and concrete manner the acceleration of the government’s policy on digital economy development. Mr. Kittiphun Anutarasoti, Krung Thai Bank’s Senior Executive Vice President, said "We are honored to be part of another key milestone of True Group. KTB has had a longstanding relationship with True and has been providing financing support to all the important milestone of True Group for over 20 years since the start of its fixed line business. We believe that the acquisition of both 900 and 1800 MHz frequencies, which brings the Group's total capacity to 55MHz, the largest in the industry, will not only enhance the group's competitive position but also strategically position it to be a true market leader in the 4G market. In addition, this investment is also important to the country's telecommunications infrastructure." Mr. Norachet Sangruji, Head of Corporate Banking, Kiatnakin Bank Plc, a member of Kiatnakin Phatra Financial Group, said ”The telecommunications industry in Thailand is growing continually in terms of subscriber base, utilization rate and average revenue per user and is a crucial part in driving the country’s development in line with the government’s policies with regards to digital economy, national broadband, national data center and national e-payment. On behalf of Kiatnakin Phatra Financial Group, we are honored to participate in this historical deal. True Group is a major telecommunication service provider in the country with a variety of communication networks and technologies. Aside from that, Kiatnakin Bank sees True’s determination to expand its network coverage and its strong dedication in bidding for the additional frequencies in the recent auctions. We wish True’s a very successful business operations in the years to come.” “At True, we are determined to deliver the best telecommunications network and service quality, which is the foundation for the Company to excel in its business. We want to create and deliver genuine value to our customers. Despite the huge investment, we regard the challenge as an opportunity to deliver higher values to all stakeholders. I would like to take this opportunity to thank everyone for their support in making it happen successfully for us and for the country,” Mr. Suphachai concluded. #### For more information (media enquiries only), please contact: Ref: (028) 01/03/2016 Corporate Communications & Marketing PR - True Group Email: [email protected] .
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