Central Pattana Public Company Limited The lease agreement of Central Plaza Ladprao with The State Railway of Thailand (Revised) March 20, 2003 Subject : Clarification of progress on the lease agreement of Central Plaza Ladprao with The State Railway of Thailand To : The President The Stock Exchange of Thailand According to the news that the Board of The State Railway of Thailand (SRT) on March 19, 2003 has resolved to terminate the land lease agreement with Central Inter Pattana Co.,Ltd., SRT has also claimed the right over the buildings on the ground that the lessee has renovated and modified the buildings without any approval from SRT. Central Pattana Public Company Limited ("Company") would like to clarify that we have sub-leased the land from Central Inter Pattana Co., Ltd. and constructed the buildings on our own cost. Renovation and modification to the buildings have been made prudently under the terms of such lease agreement. They were also done for commercial purpose and to maintain a competitive position in the industry. Currently, there is only the claim from SRT side that Central Inter Pattana Co.,Ltd. has breached the lease agreement. The Company has been informed by Central Inter Pattana Co.,Ltd that this case may have to be brought to the court for final justification. Therefore, SRT has no right to claim for the buildings in the Ladprao project. The Company would like to inform SET and investors that CPN still maintain absolute right over the buildings until the case is ruled out by the court. Please be informed accordingly Yours Faithfully, Naris Cheyklin Secretary to the Board of Director