03 March 1999

OPERATING RESULTS

-- TRANSLATION-- Net income of Central Pattana Public Company Limited (CPN) for the year 1998 is 358 million Baht which is higher than 1997 more than 20%. The net profit includes the provision totalling 636 million Baht for loss on declining in value of investments, cost of project development , doubtful accounts , and loss on sale of investments net of the foreign exchange gain amounted to 419 million Baht while in 1997 there was foreign exchange loss of 887 million Baht .