February 22, 2007 Subject: Central Pattana Public Company Limited has been awarded the concession to develop the formerly site of the Precadet School To: President, The Stock Exchange of Thailand In May 2005, Central Pattana Public Company Limited ("the Company") proposed the bid to develop the land, formerly the site of the Precadet school (Suan Lum Night Bazaar), which is owned by Crown Property Bureau. The Company believed that the property, due to its superb site, being located next to the most well known public park in Bangkok, situated in a densely populated business area, connected to an underground mass transportation system and close to an expressway, it has high potential to be developed into a complete and successful mixed-use complex consisting of a shopping center, office and a hotel. At present, the Crown Property Bureau has informed the Company that the Company has been awarded the concession to develop the land with approximate size of 40 rai.The Company will make another announcement regarding the land acquisition and details of the development project once the Company has concluded the agreement and finalized the project development program. Please be informed accordingly, Yours faithfully, (Naris Cheyklin) Secretary to the Board of Directors