CPN ANNOUNCES A CONNECTED TRANSACTION BY A SUBSIDIARY Disposal of Assets Central Pattana Public Company Limited (CPN) would like to announce that a board of director's meeting # 3/2000 of Central Food Avenue Company Limited (A subsidiary in which Central Pattana Public Company Limited holds 99.99% of the available share ) held on December 26, 2000 passed the following resolutions concerning a connected transaction. The details are as follows: 1.The date on which the transaction occurs :January 1, 2001 2.The parties involved : Name Relationship with CPN Buyer :Central Realty Service Rama3 Company Limited :Related company (60.53% indirectly held by CPN) Seller:Central Food Avenue Company Limited :Subsidiary company (99.99% directly held by CPN) 3.The general characteristics of the transaction :Disposal of assets 4.Details of the disposed assets: - The company's name :Central Food Avenue Company Limited - The nature of its business :Food & Beverage - The nature of assets :Operation assets in food center at Central Ratchada Rama3 Shopping Center - The use of such assets :No any obligation on assets 5.The total value of the consideration :14,530,000.00 Baht 6.The value of disposed assets: - Book value (As of December 31,2000) :10,745,587.12 Baht 7.The details of the connected persons and the related persons,and the nature and extent of the interest of the connected person in the transaction : Names Position in the % shares held Position in %shares held in Company in the Company Central Realty Central Realty Service Rama3 Co.,Ltd Service Rama3 Co.,Ltd. 1 Mr.Vanchai Chirathivat Chairman 4.00 Director, 0.00 - 0.00 (Holds thru Central 2.42 Pattana Rama3 Co.,Ltd.) 2 Mr.Anek Sithiprasasana Vice Chairman 0.00 Director, 0.00 - 0.00 (Holds thru Central 0.00 Pattana Rama3 Co.,Ltd.) 3 Mr.Suthichai Chirathivat Director 0.60 - 0.00 (Holds thru Central 4.46 (Holds thru Central 3.06 Holding Co.,Ltd.) Pattana Rama3 Co.,Ltd.) 4 Mr.Sudhitham Chirathivat Directo,President&CEO 7.00 Director, 0.00 (Holds thru Central 5.28 (Holds thru Central 7.43 Holding Co.,Ltd.) Pattana Rama3 Co.,Ltd.) 5 Mr.Kobchai Chirathivat Director, 5.00 Director, 0.00 Executive Director (Holds thru Central 5.28 (Holds thru Central 6.22 Holding Co.,Ltd.) Pattana Rama3 Co.,Ltd.) 6 Mr.Prin Chirathivat Director, 4.00 Director, 0.00 Executive Director (Holds thru Central 5.28 (Holds thru Central 5.62 Holding Co.,Ltd.) Pattana Rama3 Co.Ltd.) 7 Mr.Tos Chirathivat - 0.52 - 0.00 (Holds thru Central 0.65 (Holds thru Central 0.71 Holding Co.,Ltd.) Pattana Rama3 Co.,Ltd.) Ms.Suwimol Chungjothikapisit Director,Senior Vice 0.05 Director, 0.00 President Operation Management - 0.00 (Holds thru Central 0.03 Pattana Rama3 Co.,Ltd.) Total 42.12 25.49 ------------------------------------- ( Mr. Naris Cheyklin ) Secretary to the Board of Directors