May 15, 2008 Subject Set up of CPN Construction Management Co., Ltd. To The President, The Stock Exchange of Thailand The Board of Director's meeting on May 14, 2008 of Central Pattana Public Company Limited ("the Company") has approved the set up of CPN Construction Management Co., Ltd. ("the Subsidiary"). Its authorized share capital is 1 million baht consist of 10,000 shares with par value 100 Baht. The Company will hold 99.99% of such shares. The purpose of this Subsidiary is to do a management service business for the construction of building structure and utility system of the Company projects. Please be informed accordingly. Yours faithfully, (Mr.Naris Cheyklin) Company Secretary