Annual General Meeting and Dividend Payment

LPN/IR/2/50

22 February 2007

Subject:: Notification of Annual General Meeting and Dividend Payment

Attention: The Director and the Manager The Stock Exchange of Thailand

The Board of Directors' Meeting No 1/2007 of L.P.N. Development Public Company Limited held on 22 February 2007 from 9.30 to 14.00 hrs. at the Company's meeting room 36th Floor Lumpini Tower Rama 4 Road, Thungmahamek, Sathorn, Bangkok 10120 has resolved as follows:

1. The Meeting resolved to designate the date of the Annual General Meeting of Shareholders for year 2007 to be held on Thursday 26th April 2007 at 14.00 hrs. at the seminar room 11th Floor of L.P.N. Development Public Company Limited, No. 1168/109 Lumpini Tower Building, Rama IV Road, Thungmahamek, Sathorn, Bangkok 10120. The closing of Shareholders Book for the right to attend the Meeting and the right to receive dividends was scheduled to be on 9 April 2007 at 12.00 hrs.

2. The Board of Directors has agreed on the agendas for the Annual General Meeting of Shareholders 2007 as follows :

Agenda 1 To Consider Adoption the Minutes of the Annual General Meeting of Shareholders Year 2006
Directors' opinion: It was appropriate that the Minutes of the Annual General Meeting of Shareholders Year 2006 held on 25 April 2006 be adopted.

Agenda 2 Board of Directors Report the Company's 2006 Annual Operations
Director's opinion: It was appropriate to acknowledge the Company's 2006 Annual Operations.

Agenda 3 To Consider Approval the Balance Sheets and Profit and Loss Statement for the Year ended 31 December 2006
Directors' opinion: It was appropriate to approve the Audited Balance Sheets and Profit and Loss Statement for the Year ended 31 December 2006

Agenda 4 To Consider Approval the Profit Allocation and the Dividends pay out
Directors' opinion: It was appropriate to submit for approval on allocation to the legal reserve of 39,000,000 Baht (Thirty Nine Million Baht) and pay dividend from the operation results of 2006 at the rate of Baht 0.26 per share for total amount of 1,475,698,768 Shares (One thousand four hundred seventy five million six hundred ninety eight thousand seven hundred and sixty eight shares) amounting Baht 383,681,679.68 (Three hundred Eighty Three million Six hundred Eighty One thousand Six Hundred Seventy Nine Baht and Sixty Eight Satang ). However, on September 8, 2006 the company paid the interim dividend (six months' operating performance) at 0.08 baht per share or equivalent to 118,055,901.44 Baht (One Hundred Eighteen Million, the remaining yearend dividend at 0.18 Baht or equivalent to 265,625,778.24 Baht (Two Hundred Sixty Five Million Six Hundred Twenty Five Thousand Seven Hundred and Seventy Eight Baht Twenty Four Satang). The closing date of the share registration book for the right to receive such dividend will be April 9, 2007 at 12:00. The date of dividend payment will be on Wednesday 9 May 2007.

Agenda 5 To Consider the retirement by rotation of Directors
Directors' opinion: It was appropriate to propose the 5 directors namely

1. Mr. Pichet Supakijjanusan
2. Mr. Kumpee Chongthurakit
3. Mr. Tirachai Panchasarp
4. Mrs. Jongjit Thapanangkun
5. Mr. Thep Roongtanapirom

since these directors possess remarkable abilities, wide and forward looking vision and long experience which are highly valuable for the company's progression and advantages.

Agenda 6 To Consider the Board of Director's remuneration
Directors' opinion: , and approve the directors' remuneration for 2007 of Bath 6,480,000 (Six million Four hundred Eighty thousand Baht Only) and the director's reward from the operation results of 2006 Baht 2,887,500 (Two million Eight Hundred and Eighty Seven and Five hundred Baht Only).

Agenda 7 To Consider Appointing Auditors and Designating their Remunerations
Directors' opinion: It was appropriate to appoint Mrs. Vilairat Rojnuckarin, CPA no.3104 or Mrs. Suvimol Krittayakiern, CPA no. 2982 of Office of DIA International Auditing as the Company's 2007 auditors. These two people are independent and are not in any interest of the Company, its subsidiaries and joint company. Furthermore, these people are well qualified to work as auditors and approved their remunerations of Company for Baht 810,000 (Eight hundred and ten thousand Baht Only).

Agenda 8 Other Matters (if any)
Directors' opinion: -none-

Please acknowledge the above matters.

Yours faithfully,

(Opas Sripayak)
Managing Director