The fair values of forward foreign exchange contracts have been calculated (using rates quoted by the Group's banker) to terminate the contracts as at 31 December 2000.

Note 24. Interest in joint ventures

The Group has a 51% interest in a joint venture, Hachette Filipacchi Post Company Limited. According to Thai Accounting Standard No. 46 (as explained in Note 3), the Group has accounted for its 51% interest in the joint venture using the proportionate consolidation method of accounting.

The Group has a 50% interest in a joint venture, Web Advisory Company Limited, and has accounted for its 50% interest in the joint venture using the proportionate consolidation method of accounting.

The following amounts represent the Group's share of the assets, liabilities, revenues and expenses of the joint ventures and are included in the consolidated balance sheets and income statements.

Hachette Filipacchi Post Company Limited
Consolidated balance sheets

	As at 31 December
	2000		1999
			Restated
	Baht		Baht
Current assets	34,488,182		23,981,911
Non - current assets	4,899,788		5,372,071
Current liabilities	(27,354,686)		(23,829,173)
Net Assets	12,033,284		5,524,809
Consolidated statements of income
	For the years ended 31 December
	2000		1999
			Restated
	Baht		Baht
Revenues	93,552,883		69,542,060
Expenses	76,943,589		54,205,927
Web Advisory Company Limited Consolidated balance sheets
	As at 31 December
	2000		1999
			Restated
	Baht		Baht
Current assets	15,782,140		—
Non-current assets	1,215,238		—
Current liabilities	(1,022,540)		—
Net assets	15,974,838		—
Consolidated statements of Income
	For the years ended 31 December
	2000		1999
			Restated
	Baht		Baht
Revenues	5,759		—
Expenses	2,606,587		—