CENTRAL PATTANA PUBLIC COMPANY LIMITED Report on the Year 2000 Preparation Plan Central Pattana Public Company Limited and Subsidiaries engage in management of shopping centers by providing retail space for rent and related services in those shopping centers. Its head office is located at 1693 Phaholyothin Road, Lardyao, Chatuchak, Bangkok , Telephone 937-1555 , Fax 937-1580. The Company would like to submit the second report on its preparation plan for the year 2000 crisis up to 10 November 1998, as follows:- I. Progress of Problems Solving during 29 August to 10 November 1998 Most of the Software, Hardware and Property Operational Systems have been examined and resolved. Progress of the year 2000 problems solving during 29 August - 10 November 1998 are as follows :- 1. Progress of Software Problems Solving In-house developed software on AS/400 Promotion & Commission Programs and Sale & Property Programs have been examined and corrected as planed. No problem has been found and no cost incurred. The Company is currently testing and solving the Payroll Programs and do not anticipate any problem. 2. Progress of Hardware Problems Solving Personal Computer Hardware (PC) During this period, the Company is gradually replacing the new 3 PC, amounting to Baht 120,000 which is approximately 3% of total new PC required. Network System Equipment The Company was informed by its vendor that 4 network system equipment must be updated. The task will be finished within May 1999 with additional budget of Baht 250,000. 3. Progress of Property Operational Systems Problems Solving The Property Operational Systems have been inspecting as scheduled. We found that only the Telephone Control System is need to be updated. The task will be finished within May 1999 with additional budget of Baht 600,000. As summarized below, the budget in preparing for Year 2000 problems consists of Description Budget (Baht) 1 Acquire new personal computers with century 5,000,000 compliance capabilities to replace the existing ones 2 Expenses for updating the network system 2,000,000 equipment, test-run of programs on hardware with system date of year 2000 and fixing the property operational system Total 7,000,000 II. Analysis and Management's Comment The action plans for the millennium problems solving have been implemented as scheduled. The Management is confident that the solutions of the year 2000 problems will be completed within May 1999 as planned. However, the effects of Y2K is only 0.2% of the Shareholders' Equity as at 31 December 1997, which is in significant to the business operation. CERTIFICATE OF DIRECTORS We have examined the information and details in this report and confirm that the information is accurate, complete, true, not mislead or lack of significant information that may cause any damage to the stockholder or stock buyer. To be evidence that the documents are certified by us, Mr.Naris Cheyklin is assigned to be the person to endorse in every page of the report. In case any document is not been endorsed by Mr.Naris Cheyklin, we assume that document is not certified by us. Name Position Signature 1. Mr.Udane Tejapaibul Honorary Chairman 2. Mr.Anek Sithiprasana Vice Chairman 3. Mr.Viroj Phutrakul Director 4. Mrs.Suchittra Mongkolkiti Director 5. Mr.Sudhitham Chirathivat Director 6. Mr.Sudhiphand Chirathivat Director 7. Mr.Kobchai Chirathivat Director 8. Mr.Suthidej Chirathivat Director 9. Mr.Prin Chirathivat Director The Authorized Person : Name Position Signature 1. Mr.Naris Cheyklin Executive Director