Central Pattana Public Company Limited Announce the First Issuance and Offering of Debenture The Board of Directors of Central Pattana Public Company Limited at a meeting no.22/1999 held on 24 June 1999 passed the following important resolutions : Approved for the first issuance and offering of 5-year secured debentures of Central Pattana Public Company Limited in amount not exceeding 950 million baht.The Debenture will be offered through private placement to not more than 35 investors and/or 17 types of investors according to the Notification of the Securities Exchange Commission Re: Rules, Conditions and Procedures for Applying for Approval or Approval of Newly Issued Debentures Date 10 August 1994,provided that the person(s) designated by the Board shall be authorized to determine interest rate,redemption period, details and other related conditions according to market conditions. The issuance of said debentures is in accordance with the resolution of the ordinary meeting of the shareholders no.1/1999 held on 21 April 1999,which approved for issuance and sale of secured debentures and/or unsecured and un-subordinated debentures amounting to not exceeding 5,000 million baht and redemtion period shall not be longer than 10 years. ------------------------- (Naris Cheyklin) Secretary to the Board of Directors