The Date For Exercising Of Warrants (AP-W1)

BackDec 02, 2005

Date: December 2 , 2005

RE: The date for exercising of Warrants (AP-W1)
Attn: Director and Manager
The Stock Exchange of Thailand

According to the allotment of the warrants (AP-W1), which could be exercise in every three months, to the existing shareholders on August 15, 2001. Please be informed that the 15th exercise date is on December 30, 2005. The warrantholder who wishes to exercise the warrants can lodge an exercise notice to the Company from December 9, 2005 to December 29, 2005 on the business day at 8.30 a.m. to 4.00 p.m. The exercise ratio is 1 unit of warrant can buy 1 ordinary share at the price of Baht 1.00 each according to the criteria and conditions that specified in the prospectus. The contact person is:

Mr. Opas Ruangrajitpakorn
Finance Division, Asian Property Development Public Company Limited 170/57,
18th Floor, Ocean Tower Building 1,Opposite Queen Sirikit National Convention Center,
Rachadapisek Rd., Klongtoey, Bangkok 10110
Tel. 0-2261-2518-22 Fax. 0-2261-2548-9

For your acknowledgement.

Yours faithfully,

Mr. Pichet Vipavasuphakorn
Managing Director