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Lumpini Place Pinklao 2

BackSep 15, 2006

Attention: The Director and Manager The Stock Exchange of Thailand

We would like to inform you of our purchase of land for developing project with the following details:

Purchase of land for developing project Lumpini Place Pinklao 2

1. Date of transaction: 29 July 2005
2. Contracted parties: Juristic Person with no related benefit with the Company
3. Details of the land:
3.1 A land title deed no. 2533, 5345, 16680, 22595, 61974 with the total area of 1,749 sq.wah
3.2 Location: Bang Bumru, Bangkok Noi, Bangkok
3.3 Landscape: Vacant Land
3.4 Obligation:None
4. Total price: Baht 100,000,000.- (One hundred million Bath only)
5. Payment: All Payment was made on the day of ownership transference
6. Sources of fund: Profit from the operation of the Company and financial institution.
7. Benefits on the listed company:
7.1 The Company will develop this plot of land into 26 storey residential condominium consisting of 1 building with the total units of 651
7.2 Approximate total revenue of the project is Baht 1,200 million (One thousand and two hundred million Bath only)
7.3 Project will be completed in 18 months (October 2006 May 2008)
7.4 Selling period is within 9 months (September 2006 June 2007)
7.5 Starting to transfer the ownership right and recognize income on May 2008
7.6 Approximate gross and net profit are 30% and 20% respectively
8. Transaction size: By using assets criteria is equal to 1.79 % or
1,000,000 X 100
5,587,687,183.72


Yours sincerely,

(Opas Sripayak)
Managing Director

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