/:24/03/2540 15:37:00

:2539

:TPIPL

() 31 2539 2538 ()

31 2539 2538 ()

1106 27 2540

() 31

2539 2538 19,536,307 4,907,768 ( 1.2) 2,028,320,212 1,679,369,777 ( 3) 607,300,000 391,500,000 ( 1.3 4) 4,312,697,374 3,114,563,743 521,132,940 550,470,368

7,488,986,833 5,740,811,656

( 1.4 5) 4,346,205,976 2,588,072,140 - ( 1.5 6) 23,668,577,267 23,102,390,900

( 7) 11,220,734,650 7,726,382,278

( 1.6 8) 5,552,333,008 3,287,257,155

52,276,837,734 42,444,914,129

() 31 2539 2538 ( 9) 7,767,446,543 4,179,365,997 4,567,623,000 1,245,000,000 1,065,931,954 1,033,967,737( 10 12) 1,854,499,486 1,497,992,970 32,819,930 483,679,930 516,492,735 728,466,920 827,484,922 583,829,744 93,902,532 67,372,423 16,726,201,102 9,819,675,721 ( 10) 22,937,171,327 20,854,178,403 ( 12) 426,760,567 240,690,448 40,090,132,996 30,914,544,572

( 13) 270,000,000 10.00 2,700,000,000 2,700,000,000

253,750,000 10.00 2,537,500,000 241,666,666 10.00 2,416,666,660 ( 14) 6,766,666,650 6,766,666,650 3,012,124,916 2,358,486,322

12,316,291,566 11,541,819,632 (129,586,828) (11,450,075)

12,186,704,738 11,530,369,557

52,276,837,734 42,444,914,129

() 31

2539 2538 10,685,641,651 7,604,707,565 102,877,073 157,693,162 750,958,945 471,912,957 210,804,725 199,158,022

11,750,282,394 8,433,471,706

7,709,586,615 5,104,256,645 1,613,442,025 1,305,845,704 1,545,240,160 1,193,115,940 ( 15) - -

10,868,268,800 7,603,218,289

882,013,594 830,253,417

882,013,594 830,253,417 2,358,486,322 2,059,899,570 (228,375,000) (531,666,665)

3,012,124,916 2,358,486,322

( 1.8) 3.50 3.44

() 31

2539 2538 882,013,594 830,253,417 1,255,808,517 984,066,694 INTEREST RATE SWAP (114,396,327) - () 102,132,839 121,502,873 (102,877,073) (157,693,162) 5,623,030 -

2,028,304,580 1,778,129,822 () (348,950,436) (569,949,204) (1,198,133,631) (1,154,909,045) 29,337,429 (210,420,977) () 36,119,784 391,767,884 (114,778,612) 158,326,018 167,196,075 163,345,573 26,530,109 33,345,307

() 625,625,298 589,635,378

() () 31

2539 2538 (1,988,576,100) (602,069,243) (6,022,797,328) (8,354,143,029) (1,681,316,853) (1,078,994,289) 4,449,585 -

() (9,688,240,696) (10,035,206,561)

3,539,733,731 3,285,931,378 3,322,623,000 835,000,000 - 421,389,200 - (568,500,000) (450,860,000) - 2,773,288,866 5,655,051,315 120,833,340 - (228,375,000) (531,666,665)

() 9,077,243,937 9,097,205,228

() 14,628,539 (348,365,955) 4,907,768 353,273,723

19,536,307 4,907,768

() 31 2539 2538

1. 1.1 3

1.2

1.3

1.4 20 ( 5)

1.5

2539 .../2

- 2 -

20 - 40 ( ) 1 1,560,000 2 1,600,000 20 - 40 10 10 10

1.6 5 12

25

1.7

2538 () CURRENCY SWAP

2539 () CURRENCY SWAP () CURRENCY SWAP CURRENCY SWAP ( 12 21).../3

- 3 -1.8 ( 11) 31 2539

1.9 31 2538 31 2539

2. 2.1

2539 2538 2,730,753,235 1,933,570,588 3,721,427 36,826,760

2.2 31 2539 2538 129,586,828 11,450,075

2.3 31 2539 2538 571,291,407 3,524,875,429

3.

4.

2539 2538 673,960,313 572,553,097 201,978,944 403,140,992 463,744,434 337,595,204 1,106,628,600 192,902,893 1,292,514,520 1,035,800,152 98,715,117 68,352,517 470,710,047 503,390,405 4,445,399 828,483 4,312,697,374 3,114,563,743.../4

- 4 -

5.

2539 2538 () 99.99 88,278,401 99.99 62,549,062 74.99 218,617,440 74.99 194,900,580 ( ) 99.99 34,104,060 99.99 32,204,557 99.99 1,458,508 99.99 1,431,837 99.99 12,801,244 99.99 12,552,095 99.99 53,982,000 - - 409,241,653 303,638,131 () () 49.00 1,379,674,989 49.00 1,359,616,518 () 24.53 1,074,552,929 25.00 443,770,473 () 40.00 105,505,476 40.00 101,205,276 28.75 10,214,424 - - 2,569,947,818

.../5

- 5 -

1,904,592,267 2539 2538

() 1,296,906,128 176,939,437 (129,586,828) (11,450,075) 1,167,319,300 165,489,362 () 150,748,800 144,152,800 1,318,068,100 309,642,162 4,297,257,571 2,517,872,560 33,236,805 54,487,980 15,711,600 15,711,600 48,948,405 70,199,580 4,346,205,976 2,588,072,140

31 2539

31 2539 2538 1,167,319,300 165,489,362

31 2539 2538 1,224,999,800

.../6

- 6 -

() 31 2539 31 2538

2539 2538

() () () 99.99 0.03 99.99 0.02 () () 40.00 0.48 40.00 0.15 () 49.00 2.25 49.00 10.74 28.75 (0.02) - -

() 30 2539 2538 1 31 2539 ( 2538 )

.../7

- 7 -

6. - -

2539 2538 2,541,533,448 2,044,618,958 102,404,600 102,404,600 4,638,097,726 4,566,296,686 16,620,849,880 15,944,983,741 2,363,693,644 2,017,509,956 174,320,603 136,175,200 290,225,705 258,957,281

26,731,125,606 25,070,946,422 (3,062,548,339) (1,968,555,522)

23,668,577,267 23,102,390,900

1,093,992,817 862,495,019

( 10)

7.

2539 2538 4,180,327,236 1,694,644,348 1,347,375,406 903,116,281 5,693,032,008 5,128,621,649

11,220,734,650 7,726,382,278

( 10).../8

- 8 -

31 2539 31,736,516 373,999,171

31 2538 80,827,655 196,783,278

8.

2539 2538- - 8,903 36,362,686 36,362,686 14,596,464 14,596,464- 6,300 500 4,160,029,192 2,689,264,218 26,728,703 21,976,384 26,792,015 26,444,998 555,173,441 461,754,695 149,696,623 56,508,794 573,870,043 -

5,543,255,467 3,306,917,642 (563,952,810) (370,352,844)

4,979,302,657 2,936,564,798 312,433,664 144,724,779 () 158,127,555 92,100,000 99,556,263 113,170,988 2,912,869 696,590

5,552,333,008 3,287,257,155

.../9

- 9 -

9.

2539 2538 285,198,537 327,221,387 7,482,248,006 3,852,144,610

7,767,446,543 4,179,365,997

8,861 7,603 31 2539 2538

10.

2539 2538 .. 2536-2541 8.55 6,635,876 9,744,144 ..2536-2541 33,236,805 54,487,980 ..2536-2546 +0.62 1,285,637,194 1,623,142,671 ..2536-2546 216,565,082 265,817,068 ..2536-2546 +0.5 840,751,512 954,219,473 ..2537-2539 -0.5 - 80,000,000 ..2537-2539 - 96,000,000 ..2537-2543 8.10 118,789,103 157,956,179

2,501,615,572 3,241,367,515

.../10

- 10 - 2539 2538 2,501,615,572 3,241,367,515 ..2537-2546 +2.775 26,692,597 30,121,146 ..2538-2541 5.6 27,660,754 40,812,010 ..2538-2543 899,999,996 916,666,665 ..2539-2544 - 200,000,000 .. ..2539-2548 10.47 846,760,876 896,982,387 .. ..2539-2548 +0.5 801,447,670 881,074,327 .. ..2539-2549 7.5553 364,835,314 401,082,992 .. ..2539-2549 8.1 1,560,169,661 1,854,910,799 .. ..2539-2549 +0.5 1,246,578,985 1,356,720,295 ..2540-2545 700,000,000 700,000,000 ..2540-2549 7.35 1,160,865,045 961,411,837

10,136,626,470 11,481,149,973

.../11

- 11 -

2539 2538 10,136,626,470 11,481,149,973 .. .. 2540-2549 +0.65 3,218,948,279 2,947,164,483 .. .. 2538-2545 1,597,529,913 1,897,441,633.. 2542 +1.00 436,220,000 429,080,000.. 2542 +0.60 1,924,500,000 2,019,200,000 .. .. 2541-2544 -0.75 300,000,000 - .. .. 2541-2547 200,000,000 - .. .. 2539-2544 272,700,000 -

18,086,524,662 18,774,036,089

.. 2542 10 799,999,000 799,999,000 .. 2542 1 +2 200,000,000 200,000,000 100 .. 2542 7.55 2,566,000,000 2,524,000,000 10.4 .. 2549 2,684,036,000 -

6,250,035,000 3,523,999,000

24,336,559,662 22,298,035,089

(1,399,388,335) (1,443,856,686)

22,937,171,327 20,854,178,403

.../12

- 12 -

87,590,156 125,421,136 31 2539 2538

10,508,284,913 4,521,721,633 31 2539 2538

13,740,684,593 14,126,893,320 31 2539 2538 ( 6 7)

6,250,035,000 3,523,999,000 31 2539 2538

2538 DM COST REDUCTION INTEREST RATE SWAP 8.3 LIBOR (6 ) + 0.62 9 2537 9 2546 31 2538 92,335,500

2539 CURRENCY SWAP 16 2539 9 2546 LIBOR (6 ) + 0.62 8.896 9 2538 9 2546 31 2539 80,024,100 50,015,063 CURRENCY SWAP CURRENCY SWAP 15 2538 4 2548 7.35 10.47 4 2538 4 2548 31 2538 2538 52,706,375 56,861,007 32,941,484 35,538,129 .../13

- 13 -

31 2539 2538 FX CURRENCY SWAP 1,200 400 46,781,948 15,777,754

31 2539 13,140,604 20 29 2540

31 2539 2538 100 INTEREST RATE SWAP LIBOR + 1.75 5.80 + 1.75 14 2538 17 2542

11. 25 2539 104.60 10 2.75 2 1 2539 8 2549 163.30 1 25.35 1 8 2542 8 2544 20 30 140 140 20 30 8 2544 118.621 8 2539 24 2538.../14

- 14 -12.

2539 2538 19,317,725 226,503,318.. 2536 - 2540 7.5625 213,096,992 68,323,414

232,414,717 294,826,732

INTEREST RATE SWAP ( 18 21) 473,322,174 - (455,111,151) (54,136,284)

250,625,740 240,690,448 CURRENCY SWAP( 1.7 21) 176,134,827 -

426,760,567 240,690,448

13.

24 2538 2,416,666,660 241,666,666 10.00 241,666,666 10.00 2,700,000,000 270,000,000 270,000,000 10.00 28,333,334 16,250,000 ( 11) 12,083,334 29 2538 12.00 . 20 1 10.00 .../15

- 15 -

4 2538 26 2539

14. ()

15. 31 2539 2538

16. 1 2538 3 3 126,000,000 15 1

31 2538 93,500,000 32,500,000 2539

1 2539 35,320,000 8 1

31 2539 35,320,000 2539.../16

- 16 -

17.

2539 2538 644,111,006 693,093,713 173,500,053 103,272,129 16,203,938 23,251,583 2,569,947,128 1,904,592,267 640,536,805 446,350,658 77,339,060 3,901,837 32,819,930 483,697,930 31,345,933 - 12,911,715 21,278,999 - 3,404,022,781 3,208,801,242 198,986,255 139,526,836 2,017,321,997 1,818,386,073 348,212,288 257,271,800 1,544,963 1,400,000 19,174,912 118,281,236

.../17

- 17 -

18.

- 7,064,920,439 5,554,457,136- 173,642,449 208,746,335

7,238,562,888 5,763,203,471- 878,897,712 532,261,916- 5,732,684,932 457,096,117- 897,579,668 817,846,565- 4,703,766,065 249,153,974- (UBS) DM COST REDUCTION INTEREST RATE SWAP( 9) - 654,240,697

12,212,928,377 2,710,599,269

DM COST REDUCTION INTEREST RATE SWAP 2538 (UBS) KfW KfW 105 KfW 8 2546 8.30% 8 UBS 8.30% LIBOR (6 ) +0.62% UBS UBS .../18

- 18 -

2538 4,226,270 2539 8,674,742 2540 9,431,573 2541 9,014,342

31,346,927

2538

2539 INTEREST RATE SWAP (12 21)

19. .. 2520 26 2533 31 2533 50 14 2539

2534 5

7

2536 2 .../19

- 19 - 8 50 5 2 10 25

2539 10 8 30 2539 - ( )

.../20

- 20 -20. 31 31 2539

3,123,538,458 7,562,103,193 10,685,641,651 4,969,341 1,059,671,402 1,064,640,743

3,128,507,799 8,621,774,595 11,750,282,394

344,017,793 2,083,235,961 2,427,253,754 247,629,648 1,297,610,512 1,545,240,160

96,388,145 785,625,449 882,013,594

-

882,013,594

31 2539 4,517,868,301 47,758,969,433 52,276,837,734

31 2538

2,643,344,587 4,961,362,978 7,604,707,565 133,579,850 695,184,291 828,764,141

2,776,924,437 5,656,547,269 8,433,471,706

781,971,587 1,241,397,770 2,023,369,357 161,809,440 1,031,306,500 1,193,115,940

620,162,147 210,091,270 830,253,417 -

830,253,417

31 - 2538 4,412,365,045 38,032,549,084 42,444,914,129.../21

- 21 -

21. 2539 () CURRENCY SWAP () CURRENCY SWAP CURRENCY SWAP 103.76 (UBS) "DM COST REDUCTION INTEREST RATE SWAP" ( 18) INTEREST RATE SWAP 10.23

() 2539 2539

22. 13 2540 6 4 LIBOR (6 ) + 1.4 2 2544 24 2538 30 2539

8 2540 11 2540 4 9,810,000 7,339,853