Purchase Additional Of Shares In Trillion Development.

BackAug 15, 2005

August 15, 2005

Subject: To report the Board of Directors' resolution concerning assets acquisition
Attention: The President, the Stock Exchange of Thailand

The Meeting of the Board of Directors of Asian Property Development Public Company Limited No.11/2005, held on August 15, 2005 has resolved to purchase additional 60% of ordinary shares in Trillion Development Co., Ltd. Details are as following:

  1. Date of transaction Within 30 days after August 15,2005
  2. Seller Pre-Built Public Company Limited
  3. Name of the acquired assets 6,000,000 ordinary shares in Trillion Development Co.,Ltd. (or 60% of Registered Capital)
  4. Par Value of Trillion Development 10 Baht/Share
  5. Registered Capital & Paid Up Capital 100,000,000 Baht (10,000,000 shares)
  6. Related transactions with the Company None
  7. Shareholding proportion before the transaction 39.99% (3,999,994 shares)
  8. Shareholding proportion after the transaction 99.99% (9,999,994 shares)
  9. Value of transaction 10.06 Baht/Share, totaling 60.36 Million Baht (By Cash)
  10. Source of fund Internal Cash flow
  11. Transaction size less than 15%
  12. Business of Trillion Development Co., Ltd.Property Development Business on Monvadee Exclusive Project and Grand Monvadee Project located at Bang-Bua-Thong
  13. Criteria for setting purchasing price Adjusted Book Value *
  14. Reasons of the transaction
    1. To obviously restructure our business nature between the Company and Pre-Built Plc. ,which concentrates on only construction.
    2. To expand the Company's property development business.
    * Based on the financial statement as of June 30, 2005 adjusted by premium on assets revaluation, which was appraised by Thai Property Appraisal Lynn Phillips Co., Ltd. on July 11, 2005. For your acknowledgement.


Yours Faithfully,

Mr.pichet Vipavasuphakorn
Managing Director