April 22, 2005 Subject : Notification of the conversion preferred share to common share To : The President The Stock Exchange of Thailand As Central Pattana Public Company Limited has increased its registered capital 178,571,000 baht by issuing 35,714,200 convertible preferred shares with par value 5 baht per share to the Thailand Equity Fund on July 18, 2003. These shares shall be converted into common share at a ratio as one to one upon the written request of the shareholder anytime that the shareholder thinks fit; and not less than 1,000,000 shares per conversion. Now the Company has received the written request from the Thailand Equity Fund on April 7,2005 to convert all its preferred shares into common shares totaling 178,571,000 shares with par value 1 baht per share. The Company is now currently in process of conversion, which expect to be completed in April 2005. This conversion is in compliance with the agreement with Thailand Equity Fund. After the conversion, all of the registered and paid-up 2,178,816,000 shares with par value 1 baht per share will consist of only 2,178,816,000 common shares with par value 1 baht per share. Moreover, the director who is the represent of Thailand Equity Fund will continue to serve as director of the Company. Please be informed accordingly. Yours Faithfully, Naris Cheyklin Secretary to the Board of Directors