Report of Capital Increase From Central Pattana Public Company Limited Date : May 20, 2003 We, Central Pattana public Company Limited, hereby report the Annual General Meeting of the Board of Directors No.4/2003 held on May 20, 2003 from 3.00 p.m. to 4.00 p.m. regarding a capital increase and an allotment of convertible preferred shares as follows: 1. Capital Increase The Meeting of the Board of Directors approved the increase of a registered capital of the Company from 2,000,245,000 Baht to 2,178,816,000 Baht by means of the issuance of 35,714,200 convertible preferred shares which can be converted into ordinary shares with a par value of 5 Baht each, totaling 178,571,000 Baht. It will be offer to specific investor at the price of 28 Baht per share, totaling 999,997,600 Baht 2. Allotment of New shares The meeting of the Board of Directors passed a resolution approving the allotment of 35,714,200 shares with a par value of 5 Baht each, totaling 178,571,000 Baht, the details of which are as follows: 2.1 Allotment Details Alloted to Number of Ratio Offering Price Subscription Date Remark Shares (Old: New) Per Share and Payment Thailand 35,714,200 - 28 Baht Within 50 business Equity Fund days from the resolutions' date 2.2 The company's Plan in case There Is a Fraction of Shares Remaining - None 2.3 The Number of Shares Remaining from Allotment - None 3. The Date of the Annual General Meeting of Shareholders for Approval of the Capital Increase/Share Allotment The extraordinary meeting of shareholders No.1/2003 is scheduled to be held on June 26, 2003 at 2.00 p.m., at Auditorium Floor 7th, World Trade Center Bangkok. The share register will be closed for share transfer in order to determine the right to attend this meeting from June 9,2003 at 12.00 o'clock, until the meeting has been duly convened. 4. Approval of the Capital Increase/Share Allotment by Relevant Government Agency and Conditions (if any) - None 5. Purpose of Capital Increase and the Use of Funds To finance the Company's expansion project including the renovation and development of World Trade Center Bangkok 6. Benefits which the Company Will Receive from the Capital Increase/share Allotment The proceeds will be used to expand the Company's business which will generate an appropriate return on investment to shareholders. 7. Benefits which the Shareholders Will Receive from the Capital Increase/Share Allotment 7.1 Subscribers of the new preferred shares will entitled to receive dividends equal to ordinary shares from the 2003 operating results of the Company. 7.2 The new preferred shares can be converted into ordinary shares by 1 preferred share entitle to 1 ordinary shares at any time after the payment date in lots of no less than 1 million shares. 7.3 Preferred share's shareholders has right to vote entitle to 1 share 1 vote. 8. Other Details Necessary for Shareholders to Approve the Capital Increase and Share Allotment - None 9. Schedule of Action where the Board of Directors of the Company Passes a Resolution Approving the Capital Increase or Allotment of New Shares 9.1 The share register will be closed for share transfer in order to determine the right to attend this meeting from June 9, 2003 at 12.00 o' clock, until the meeting has been duly convened. 9.2 The Extraordinary Meeting of Shareholders No.1/2003 to pass the resolution to increase the capital will be convened on June 26, 2003 at 2.00 p.m. 9.3 The payment date will be within 50 business days from the resolutions' date. The company hereby certifies that the information contained in this report from is true and complete in all respects. Signed................................................ Director Signed................................................. Director