Start Operations Of Bangkok Citismart Co.,Ltd.

BackNov 16, 2005

November 15, 2005

Subject Notify the Minutes of the Board of Directors' Meeting

Attention The President
The Stock Exchange of Thailand

The Board of Directors' Meeting No. 14/2005 of Asian Property Development Public Company Limited, held on November 15, 2005 from 10.55am. to 12.35 pm. at the conference room no. 170/57, Ocean Tower 1, 18th floor, Rachadapisek Road, Klongtoey, Bangkok has passed the resolution to start operations of a newly set-up company named "Bangkok CitiSmart Co., Ltd.". Details are as follows:

Name : Bangkok CitiSmart Co., Ltd.
Registered Shares : 200,000 shares with par value of 10 Baht each
Total Registered Capital : 2,000,000 Baht
% Holding : 99.99% (199,994 shares)
Paid Amount : 1,999,940 Baht (bought at book value)
Objective : Broker for sale and rent property
Please be informed accordingly,


Yours Sincerely,

Asian Property Development Public Company Limited
Mr. Pichet Vipavasuphakorn
Managing Director