Explanations on the informations from Krungthepturakij

LPN/SorKor/443/2006

1 November 2006

To: Director and Manager The Stock Exchange of Thailand

Subject : Explanations on the information from Krungthepturakij

Reference information from the Krungthepturakij Newspaper dated 1 November 2006 stating that Mr.Opas Sripayak, Managing Director of L.P.N. Development Public Co., Ltd. (LPN) revealed that in 3rd quarter of 2006 the company had recognized revenues amounting 1.3 Million Baht approximately, while the Gross Profit Margin was 32%, decreasing from 34% in the same period of the previous year.

We would like to clarify that Mr Opas Sripayak, Managing Director of L.P.N. Development Public Co., Ltd. gave an interview to Reuter that in 3rd quarter of 2006 the company had recognized revenues amounting 1.3 Million Baht approximately, this came from the assumption of the construction plan that was completed on schedule and could transfer the ownership right according to plan but did not mention on gross profit margin. But from the information stating in the news on gross profit margin, it could be that all the press and analysts already knew from the Companys performance that we can achieve from sale and get gross profit margin about 30% from our every project which they could calculate the operation result, total sales and total revenue of the Company.

However, we can confirm that we had no intention to create misunderstanding that would result in stock price, and we would be more careful when giving interviews.

Yours sincerely,

Opas Sripayak
Managing Director