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 31 January 1999, as follows :- I.Progress of Problems Solving during 11 November 1998 to 31 January 1999 During this period, the working team has continue to inspect, examine and solve the Y2K problems as scheduled, detailed as follows: 1. Progress of Software Problems Solving In-house developed software on AS/400 The last program, Payroll, has been examined and sucessfully corrected. In addition, all programs have been test-run with live data. No problem has been found and no cost incurred. Further stage, the Company plans to test all programs on hardware with system date of year 2000 in the coming March-May 1999 to ensure the correctness of the software. 2. Progress of Hardware Problems Solving Personal Computer Hardware (PC) Approximately 20% of the total new PCs required have been replaced with total cost of Baht 575,000. Network System Equipment The Company has placed the order for new network system equipment from supplier to replace the old ones. We are now waiting for delivery of such equipment. 3. Progress of Property Operational Systems Problems Solving All Property Operational Systems have been examined, only Telephone Control System is need to be updated within this May. 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. The main issue is the replacement of new personal computers which will be replaced during this March till May. The budget for Y2K Solution is only 0.2% of the Shareholder's Equity as at 31 December 1998, which is insignificant 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 orstock 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.Anek Sithiprasasana Vice Chairman 2.Mr.Viroj Phutrakul Director 3.Mrs.Suchittra Mongkolkiti Director 4.Mr.Sudhitham Chirathivat Director 5.Mr.Sudhiphand Chirathivat Director 6.Mr.Kobchai Chirathivat Director 7.Mr.Suthidej Chirathivat Director 8.Mr.Prin Chirathivat Director The Authorized Person : Name Position Signature 1. Mr.Naris Cheyklin Executive Director