March 2, 2007 Subject:The Progress of the Investment and the Lease/Sublease of Assets to CPN Retail Growth Property Fund To: The President, The Stock Exchange of Thailand As Central Pattana Public Company Limited ("CPN") has notified about the investment and the lease/sublease of assets to CPN Retail Growth Property Fund ("CPNRF") on November 2, 2006, CPN would like to announce that the current economic environment is not appropriate to proceed with those transactions. Therefore, CPN will postpone the investment in CPNRF and the lease/sublease certain parts of Shopping Complex and 2 Office Buildings at Central Plaza Pinklao Project to CPNRF until the situation is improved. Should there be any development on this, CPN will notify to the shareholders in due course. Please be informed accordingly. Yours faithfully, (Mr. Naris Cheyklin) Secretary to the Board of Directors