25th February 2010

Project Director
Technical Education Development project
Ground floor, Nipunatha Piyasa
354/2 Elivitigala Mw,
Colombo05.
Dear Sir,

Audited Financial Statement for the last 3 years and

Consolidated Revenue

Submitted herewith the audited financial Statement for the year

2007/08 and 2008/09 of Cameron Media (Pvt) Ltd which is a fully
owned subsidiary of Cameron Pale & Medina (Pvt) Ltd. Cameron Media
(Pvt) Ltd commenced its operations from year 2007/08. The audited
financial statements of Parent company Cameron Pale & Medina (Pvt)
Ltd (CPM)for the year 2006/07 along with draft financial statement for
the year ended 2007/08 is also attached to reflect the financial
soundness of the CPM.

The revenue recognized in the financial statement mainly comprises

the net income meaning the commission income received from media
agencies (which comes to 15% of total billings). The companies
financial policy is to record only the net income and not gross income.

However taking into account the gross income (capitalized billing

concept) CPM can derive the following total incomes for the past 3
years. In this manner 85% is recognized as cost of sales.

The figures are derived from Audited financial statements and

recorded Media Release Orders.

Year Net income (15%)Gross Income(100%) Other

income Total Income

2006/07 6.89 Mn 45.93 Mn 15.36 Mn 61.29 Mn

2007/08 6.73 Mn 44.86 Mn 18.98 Mn 63.84 Mn

2008/09 9.25 Mn 61.67 Mn 9.76 Mn 71.43

Mn

The figures are derived from Audited financial statements and

recorded Media Release Orders.
S.A.L Martino

Group Finance Manager